Citigroup Inc. grew its position in National Retail Properties, Inc. (NYSE:NNN) by 56.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,316 shares of the real estate investment trust’s stock after purchasing an additional 69,472 shares during the quarter. Citigroup Inc. owned approximately 0.12% of National Retail Properties worth $10,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of NNN. BlackRock Inc. boosted its stake in National Retail Properties by 1.9% in the 1st quarter. BlackRock Inc. now owns 23,305,276 shares of the real estate investment trust’s stock worth $1,290,878,000 after buying an additional 423,636 shares during the last quarter. Vanguard Group Inc raised its stake in shares of National Retail Properties by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 22,827,899 shares of the real estate investment trust’s stock valued at $1,023,146,000 after purchasing an additional 338,993 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of National Retail Properties by 5,766.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,965,502 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 6,846,768 shares during the period. JPMorgan Chase & Co. raised its stake in shares of National Retail Properties by 33.4% in the 1st 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. Finally, Daiwa Securities Group Inc. raised its stake in shares of National Retail Properties by 6.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,183,210 shares of the real estate investment trust’s stock valued at $176,318,000 after purchasing an additional 194,236 shares during the period. Hedge funds and other institutional investors own 89.47% of the company’s stock.
NNN has been the topic of several recent research reports. Raymond James set a $57.00 price target on National Retail Properties and gave the company a “hold” rating in a research note on Monday, May 20th. Zacks Investment Research upgraded shares of National Retail Properties from a “sell” rating to a “hold” rating and set a $59.00 price target for the company in a research report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. National Retail Properties presently has a consensus rating of “Hold” and an average target price of $51.43.
NYSE:NNN traded up $0.09 on Friday, hitting $53.01. The stock had a trading volume of 1,350,743 shares, compared to its average volume of 878,139. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.81. The firm has a market cap of $8.62 billion, a PE ratio of 19.78, a P/E/G ratio of 4.48 and a beta of 0.22. National Retail Properties, Inc. has a 1 year low of $42.97 and a 1 year high of $55.97. The firm’s fifty day simple moving average is $53.87.
National Retail Properties (NYSE:NNN) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $161.34 million. During the same quarter last year, the business posted $0.67 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts expect that National Retail Properties, Inc. will post 2.75 EPS for the current fiscal year.
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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