National Retail Properties, Inc. (NNN) Shares Sold by AMP Capital Investors Ltd
AMP Capital Investors Ltd cut its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,064 shares of the real estate investment trust’s stock after selling 7,428 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.10% of National Retail Properties worth $6,674,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Preferred LLC lifted its stake in shares of National Retail Properties by 119.6% in the second quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,346 shares in the last quarter. Asset Advisors Investment Management LLC bought a new position in shares of National Retail Properties in the third quarter valued at $112,000. Centaurus Financial Inc. bought a new position in shares of National Retail Properties in the second quarter valued at $124,000. Gradient Investments LLC lifted its stake in shares of National Retail Properties by 7,526.0% in the second quarter. Gradient Investments LLC now owns 3,813 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 3,763 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of National Retail Properties in the second quarter valued at $215,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Paul Eugene Bayer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $48.77, for a total transaction of $243,850.00. Following the completion of the sale, the insider now owns 132,130 shares in the company, valued at $6,443,980.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen A. Horn, Jr. sold 6,250 shares of the firm’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $49.15, for a total transaction of $307,187.50. Following the sale, the executive vice president now owns 88,183 shares of the company’s stock, valued at approximately $4,334,194.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,109 shares of company stock valued at $791,936. 1.03% of the stock is currently owned by corporate insiders.
National Retail Properties (NYSE:NNN) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.20). The firm had revenue of $155.33 million during the quarter, compared to analysts’ expectations of $156.04 million. National Retail Properties had a net margin of 53.44% and a return on equity of 9.91%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities research analysts anticipate that National Retail Properties, Inc. will post 2.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.94%. National Retail Properties’s dividend payout ratio is currently 78.74%.
A number of research analysts have weighed in on NNN shares. Wells Fargo & Co set a $50.00 price objective on shares of National Retail Properties and gave the company a “buy” rating in a research note on Tuesday, September 4th. Stifel Nicolaus raised their price objective on shares of National Retail Properties from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 21st. LADENBURG THALM/SH SH set a $48.00 target price on shares of National Retail Properties and gave the company a “buy” rating in a report on Wednesday, September 26th. ValuEngine upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research downgraded shares of National Retail Properties from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $48.00.
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National Retail Properties Company Profile
National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet and with a weighted average remaining lease term of 11.4 years.
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