First Trust Advisors LP Grows Position in National Retail Properties, Inc. (NYSE:NNN)

First Trust Advisors LP lifted its position in National Retail Properties, Inc. (NYSE:NNN) by 41.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,898 shares of the real estate investment trust’s stock after buying an additional 39,522 shares during the quarter. First Trust Advisors LP owned about 0.08% of National Retail Properties worth $7,472,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. lifted its holdings in National Retail Properties by 170.8% during the 1st quarter. Cornerstone Advisors Inc. now owns 463 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 292 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of National Retail Properties during the first quarter worth $34,000. Next Capital Management LLC bought a new position in shares of National Retail Properties in the first quarter worth $51,000. CWM LLC increased its position in shares of National Retail Properties by 157.1% in the first quarter. CWM LLC now owns 990 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 605 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of National Retail Properties in the first quarter worth $57,000. 89.47% of the stock is owned by institutional investors and hedge funds.

In other National Retail Properties news, insider Paul Eugene Bayer sold 37,899 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $52.44, for a total value of $1,987,423.56. Following the transaction, the insider now directly owns 95,173 shares of the company’s stock, valued at $4,990,872.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Paul Tessitore sold 2,550 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total value of $65,509.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,949 shares of company stock worth $2,135,298. Insiders own 0.70% of the company’s stock.

NNN has been the topic of a number of recent analyst reports. Raymond James set a $57.00 price target on National Retail Properties and gave the stock a “hold” rating in a research report on Monday, May 20th. Zacks Investment Research upgraded National Retail Properties from a “sell” rating to a “hold” rating and set a $59.00 target price on the stock in a research report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. National Retail Properties has an average rating of “Hold” and a consensus target price of $51.43.

Shares of NYSE:NNN traded down $0.73 during midday trading on Monday, hitting $52.28. 729,500 shares of the stock were exchanged, compared to its average volume of 950,482. The firm has a market cap of $8.59 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 4.48 and a beta of 0.18. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.35 and a quick ratio of 2.35. The business’s 50-day simple moving average is $53.87. National Retail Properties, Inc. has a 12 month low of $42.97 and a 12 month high of $55.97.

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 Zacks’ consensus estimate of $0.67 by ($0.23). The company had revenue of $163.71 million during the quarter, compared to analyst estimates of $161.34 million. National Retail Properties had a return on equity of 7.78% and a net margin of 42.49%. National Retail Properties’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. Research analysts forecast that National Retail Properties, Inc. will post 2.75 earnings per share 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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Institutional Ownership by Quarter for National Retail Properties (NYSE:NNN)

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