Marshall Wace LLP purchased a new position in National Retail Properties, Inc. (NYSE:NNN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 84,088 shares of the real estate investment trust’s stock, valued at approximately $3,697,000. Marshall Wace LLP owned approximately 0.05% of National Retail Properties at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of National Retail Properties by 24.1% in the 2nd quarter. Victory Capital Management Inc. now owns 6,607,851 shares of the real estate investment trust’s stock worth $290,482,000 after acquiring an additional 1,282,200 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of National Retail Properties by 4.0% in the 2nd quarter. BlackRock Inc. now owns 21,558,636 shares of the real estate investment trust’s stock worth $947,718,000 after acquiring an additional 832,861 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of National Retail Properties by 28.8% in the 1st quarter. Millennium Management LLC now owns 1,569,958 shares of the real estate investment trust’s stock worth $61,637,000 after acquiring an additional 351,489 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of National Retail Properties by 366.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 433,746 shares of the real estate investment trust’s stock worth $19,071,000 after acquiring an additional 340,740 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of National Retail Properties by 24.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,218,414 shares of the real estate investment trust’s stock worth $47,835,000 after acquiring an additional 242,165 shares during the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Michelle Lynn Miller sold 1,750 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $45.67, for a total transaction of $79,922.50. Following the completion of the sale, the executive vice president now directly owns 29,947 shares in the company, valued at approximately $1,367,679.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julian E. Whitehurst sold 26,130 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $46.06, for a total transaction of $1,203,547.80. Following the sale, the chief executive officer now owns 329,403 shares of the company’s stock, valued at $15,172,302.18. The disclosure for this sale can be found here. Insiders have sold a total of 54,685 shares of company stock valued at $2,511,863 over the last quarter. 0.78% of the stock is currently owned by company insiders.

Shares of NNN opened at $45.29 on Tuesday. The company has a market capitalization of $7.13 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 3.51 and a beta of 0.18. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.57. National Retail Properties, Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $46.44.

National Retail Properties (NYSE:NNN) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.26). National Retail Properties had a net margin of 50.66% and a return on equity of 9.50%. The firm had revenue of $155.50 million for the quarter, compared to the consensus estimate of $154.12 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. equities research analysts expect that National Retail Properties, Inc. will post 2.68 earnings per share for the current year.

A number of equities research analysts have recently weighed in on NNN shares. Stifel Nicolaus restated a “buy” rating and issued a $46.00 price objective on shares of National Retail Properties in a report on Wednesday, August 1st. B. Riley boosted their price objective on shares of National Retail Properties from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Janney Montgomery Scott lowered shares of National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. Zacks Investment Research upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, July 4th. Finally, Citigroup boosted their price objective on shares of National Retail Properties from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. National Retail Properties presently has an average rating of “Buy” and an average target price of $46.25.

National Retail Properties Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of June 30, 2018, the company owned 2,846 properties in 48 states with a gross leasable area of approximately 29.4 million square feet and with a weighted average remaining lease term of 11.5 years.

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

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