Meridian Wealth Management LLC purchased a new position in National Retail Properties (NYSE:NNN) during the fourth quarter, Holdings Channel reports. The fund purchased 5,495 shares of the real estate investment trust’s stock, valued at approximately $234,000.
Several other large investors have also recently added to or reduced their stakes in NNN. Credit Agricole S A boosted its stake in National Retail Properties by 49.3% in the fourth quarter. Credit Agricole S A now owns 112,929 shares of the real estate investment trust’s stock worth $4,991,000 after buying an additional 37,278 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of National Retail Properties by 55.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 608,019 shares of the real estate investment trust’s stock worth $26,665,000 after buying an additional 216,553 shares in the last quarter. Keybank National Association OH boosted its stake in shares of National Retail Properties by 31.6% in the fourth quarter. Keybank National Association OH now owns 22,683 shares of the real estate investment trust’s stock worth $1,003,000 after buying an additional 5,450 shares in the last quarter. RidgeWorth Capital Management LLC acquired a new stake in shares of National Retail Properties during the fourth quarter worth about $31,821,000. Finally, Federated Investors Inc. PA boosted its stake in shares of National Retail Properties by 1.4% in the fourth quarter. Federated Investors Inc. PA now owns 2,537,616 shares of the real estate investment trust’s stock worth $112,162,000 after buying an additional 36,079 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.
Shares of National Retail Properties (NYSE:NNN) traded down 0.25% on Tuesday, hitting $44.31. 1,322,133 shares of the stock were exchanged. The firm has a market capitalization of $6.52 billion, a PE ratio of 35.03 and a beta of 0.39. National Retail Properties has a one year low of $39.86 and a one year high of $53.60. The company has a 50-day moving average price of $44.32 and a 200-day moving average price of $46.32.
National Retail Properties (NYSE:NNN) last released its earnings results on Monday, February 13th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.29. The business earned $141.20 million during the quarter, compared to the consensus estimate of $137.23 million. National Retail Properties had a net margin of 41.61% and a return on equity of 7.44%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Equities research analysts expect that National Retail Properties will post $1.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Friday, January 27th. National Retail Properties’s dividend payout ratio (DPR) is currently 144.45%.
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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of National Retail Properties from a “hold” rating to a “sell” rating in a report on Thursday, February 2nd. Bank of America Corporation raised shares of National Retail Properties from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, January 31st. FBR & Co set a $56.00 target price on shares of National Retail Properties and gave the stock a “buy” rating in a research report on Tuesday, December 6th. Robert W. Baird raised shares of National Retail Properties from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $54.00 to $50.00 in a research report on Monday, November 21st. Finally, DA Davidson reissued a “hold” rating on shares of National Retail Properties in a research report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. National Retail Properties has a consensus rating of “Hold” and an average target price of $52.70.
In related news, EVP Stephen A. Horn, Jr. sold 3,500 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $42.51, for a total value of $148,785.00. Following the completion of the transaction, the executive vice president now owns 103,924 shares of the company’s stock, valued at $4,417,809.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.25% of the stock is currently owned by company insiders.
National Retail Properties Company Profile
National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are held for investment. The Company owns over 2,050 Properties with a gross leasable area of approximately 24,964,000 square feet, located in approximately 50 states.
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