Barings LLC Acquires 26,087 Shares of National Retail Properties, Inc. (NYSE:NNN)

Barings LLC increased its position in National Retail Properties, Inc. (NYSE:NNN) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 973,116 shares of the real estate investment trust’s stock after acquiring an additional 26,087 shares during the quarter. National Retail Properties comprises about 1.2% of Barings LLC’s investment portfolio, making the stock its 15th biggest position. Barings LLC owned about 0.60% of National Retail Properties worth $53,901,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. First National Bank of Mount Dora Trust Investment Services grew its position in National Retail Properties by 659.8% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 33,885 shares of the real estate investment trust’s stock worth $1,877,000 after purchasing an additional 29,425 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of National Retail Properties by 3.8% during the 4th quarter. Macquarie Group Ltd. now owns 412,511 shares of the real estate investment trust’s stock valued at $20,010,000 after acquiring an additional 15,022 shares in the last quarter. Bank of Montreal Can boosted its position in shares of National Retail Properties by 4.3% during the 4th quarter. Bank of Montreal Can now owns 69,688 shares of the real estate investment trust’s stock valued at $3,380,000 after acquiring an additional 2,856 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of National Retail Properties during the 4th quarter valued at about $1,830,000. Finally, Cigna Investments Inc. New boosted its position in shares of National Retail Properties by 8.6% during the 4th quarter. Cigna Investments Inc. New now owns 4,687 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 89.52% of the company’s stock.

NNN stock traded up $0.18 during trading on Friday, hitting $55.28. 634,828 shares of the stock traded hands, compared to its average volume of 932,902. National Retail Properties, Inc. has a one year low of $41.83 and a one year high of $55.87. The company has a market capitalization of $9.00 billion, a P/E ratio of 20.63, a P/E/G ratio of 4.67 and a beta of 0.22. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.81.

National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.23). National Retail Properties had a net margin of 42.49% and a return on equity of 7.78%. The firm had revenue of $163.71 million for the quarter, compared to the consensus estimate of $161.34 million. During the same period in the prior year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts expect that National Retail Properties, Inc. will post 2.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Monday, April 29th. National Retail Properties’s dividend payout ratio is presently 74.63%.

NNN has been the topic of several recent research reports. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, February 15th. Raymond James set a $57.00 target price on shares of National Retail Properties and gave the company a “hold” rating in a research report on Monday, May 20th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $51.43.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 2,550 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $25.69, for a total value of $65,509.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Eugene Bayer sold 37,899 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $52.44, for a total transaction of $1,987,423.56. Following the completion of the transaction, the insider now directly owns 95,173 shares of the company’s stock, valued at $4,990,872.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,892 shares of company stock valued at $2,574,888. Insiders own 0.70% of the company’s stock.

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National Retail Properties Profile

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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