Centersquare Investment Management LLC Buys Shares of 405,640 National Retail Properties, Inc. (NYSE:NNN)

Centersquare Investment Management LLC acquired a new position in shares of National Retail Properties, Inc. (NYSE:NNN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 405,640 shares of the real estate investment trust’s stock, valued at approximately $21,503,000. Centersquare Investment Management LLC owned about 0.25% of National Retail Properties as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. PGGM Investments grew its position in shares of National Retail Properties by 369.6% in the second quarter. PGGM Investments now owns 3,164,375 shares of the real estate investment trust’s stock valued at $167,744,000 after purchasing an additional 2,490,524 shares during the period. JPMorgan Chase & Co. grew its position in shares of National Retail Properties by 33.4% in the first quarter. JPMorgan Chase & Co. now owns 5,747,192 shares of the real estate investment trust’s stock valued at $318,336,000 after purchasing an additional 1,440,166 shares during the period. FMR LLC grew its position in shares of National Retail Properties by 17.6% in the first quarter. FMR LLC now owns 3,882,238 shares of the real estate investment trust’s stock valued at $215,038,000 after purchasing an additional 581,343 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of National Retail Properties by 2,703.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 601,069 shares of the real estate investment trust’s stock valued at $33,293,000 after purchasing an additional 579,632 shares during the period. Finally, Neuberger Berman Group LLC grew its position in National Retail Properties by 110.6% during the first quarter. Neuberger Berman Group LLC now owns 1,056,370 shares of the real estate investment trust’s stock valued at $58,512,000 after acquiring an additional 554,810 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.

NNN has been the subject of a number of research reports. ValuEngine downgraded National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on National Retail Properties from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Wells Fargo & Co set a $62.00 price objective on National Retail Properties and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Zacks Investment Research cut National Retail Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley boosted their price target on National Retail Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $56.14.

NNN opened at $54.60 on Friday. The business has a 50 day moving average price of $54.64 and a two-hundred day moving average price of $53.67. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 6.36 and a beta of 0.13. National Retail Properties, Inc. has a 1-year low of $42.97 and a 1-year high of $57.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.83 and a quick ratio of 1.83.

National Retail Properties (NYSE:NNN) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.25). The business had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $163.73 million. National Retail Properties had a net margin of 43.14% and a return on equity of 7.88%. National Retail Properties’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 EPS. Equities analysts expect that National Retail Properties, Inc. will post 2.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.515 dividend. The ex-dividend date was Tuesday, July 30th. This is an increase from National Retail Properties’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.77%. National Retail Properties’s dividend payout ratio is 76.87%.

In related news, EVP Michelle Lynn Miller sold 1,700 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $55.44, for a total value of $94,248.00. Following the completion of the sale, the executive vice president now owns 39,454 shares in the company, valued at $2,187,329.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

About National Retail Properties

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of March 31, 2019, the company owned 2,984 properties in 48 states with a gross leasable area of approximately 30.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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Institutional Ownership by Quarter for National Retail Properties (NYSE:NNN)

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