Cleararc Capital Inc. Purchases New Position in National Retail Properties, Inc. (NYSE:NNN)

Cleararc Capital Inc. purchased a new position in National Retail Properties, Inc. (NYSE:NNN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,147 shares of the real estate investment trust’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also modified their holdings of NNN. BlackRock Inc. increased its holdings in National Retail Properties by 1.9% during 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 purchasing an additional 423,636 shares during the period. Vanguard Group Inc increased its holdings in National Retail Properties by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 22,827,899 shares of the real estate investment trust’s stock worth $1,023,146,000 after purchasing an additional 338,993 shares during the period. JPMorgan Chase & Co. increased its holdings in National Retail Properties by 33.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,747,192 shares of the real estate investment trust’s stock worth $318,336,000 after purchasing an additional 1,440,166 shares during the period. Daiwa Securities Group Inc. increased its holdings in National Retail Properties by 6.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,183,210 shares of the real estate investment trust’s stock worth $176,318,000 after purchasing an additional 194,236 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of National Retail Properties by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,375,477 shares of the real estate investment trust’s stock valued at $115,234,000 after acquiring an additional 29,973 shares during the period. Hedge funds and other institutional investors own 89.47% of the company’s stock.

Shares of NYSE:NNN traded down $0.25 on Friday, reaching $53.78. The company had a trading volume of 1,091,995 shares, compared to its average volume of 916,608. National Retail Properties, Inc. has a 52-week low of $42.97 and a 52-week high of $55.97. The business has a 50 day moving average of $54.07. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 4.57 and a beta of 0.18. 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 posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.23). The business 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%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. As a group, equities analysts expect that National Retail Properties, Inc. will post 2.75 EPS for the current year.

A number of research analysts have recently issued reports on NNN shares. Morgan Stanley lifted their price target on Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James set a $57.00 price target on National Retail Properties and gave the company a “hold” rating in a report on Monday, May 20th. Finally, Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. National Retail Properties presently has an average rating of “Hold” and an average target price of $51.88.

In other news, insider Christopher Paul Tessitore sold 2,550 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $25.69, for a total value of $65,509.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Eugene Bayer sold 37,899 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 95,173 shares of the company’s stock, valued at approximately $4,990,872.12. The disclosure for this sale can be found here. Insiders sold a total of 41,949 shares of company stock valued at $2,135,298 in the last three months. 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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