Gilman Hill Asset Management LLC boosted its holdings in National Retail Properties, Inc. (NYSE:NNN – Get Rating) by 26.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 181,819 shares of the real estate investment trust’s stock after acquiring an additional 37,634 shares during the quarter. National Retail Properties accounts for approximately 1.7% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding. Gilman Hill Asset Management LLC owned 0.10% of National Retail Properties worth $7,818,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. CENTRAL TRUST Co bought a new position in National Retail Properties during the 1st quarter valued at approximately $25,000. Prospera Financial Services Inc purchased a new position in shares of National Retail Properties in the first quarter valued at about $30,000. Bogart Wealth LLC lifted its position in shares of National Retail Properties by 183.2% in the first quarter. Bogart Wealth LLC now owns 691 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in shares of National Retail Properties by 684.3% in the second quarter. FNY Investment Advisers LLC now owns 1,051 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 917 shares during the last quarter. Finally, GW&K Investment Management LLC bought a new stake in shares of National Retail Properties in the first quarter worth about $52,000. Institutional investors own 89.44% of the company’s stock.
Wall Street Analysts Forecast Growth
NNN has been the subject of a number of analyst reports. Morgan Stanley lowered National Retail Properties from an “overweight” rating to an “equal weight” rating and set a $45.00 target price for the company. in a report on Tuesday, July 12th. Citigroup raised their price target on shares of National Retail Properties to $47.00 in a research report on Monday, August 15th. Raymond James dropped their price objective on shares of National Retail Properties from $55.00 to $52.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, September 6th. Credit Suisse Group assumed coverage on shares of National Retail Properties in a report on Wednesday, June 22nd. They issued an “outperform” rating and a $46.00 price target on the stock. Finally, StockNews.com lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, National Retail Properties has an average rating of “Hold” and an average price target of $48.78.
National Retail Properties Stock Down 0.4 %
National Retail Properties (NYSE:NNN – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $190.80 million for the quarter, compared to analysts’ expectations of $190.68 million. National Retail Properties had a return on equity of 8.09% and a net margin of 42.21%. National Retail Properties’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. On average, analysts forecast that National Retail Properties, Inc. will post 3.13 EPS for the current fiscal year.
National Retail Properties Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.20 annualized dividend and a yield of 5.22%. This is an increase from National Retail Properties’s previous quarterly dividend of $0.53. National Retail Properties’s dividend payout ratio is 129.41%.
Insider Buying and Selling
In other news, CFO Kevin B. Habicht sold 10,520 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $48.06, for a total value of $505,591.20. Following the transaction, the chief financial officer now directly owns 203,717 shares in the company, valued at approximately $9,790,639.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.82% of the stock is currently owned by corporate insiders.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.
- Get a free copy of the StockNews.com research report on National Retail Properties (NNN)
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