Prudential Financial Inc. raised its stake in shares of National Retail Properties, Inc. (NYSE:NNN) by 8.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,603 shares of the real estate investment trust’s stock after buying an additional 7,800 shares during the period. Prudential Financial Inc.’s holdings in National Retail Properties were worth $5,439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NNN. PGGM Investments raised its stake in National Retail Properties by 369.6% during the 2nd quarter. PGGM Investments now owns 3,164,375 shares of the real estate investment trust’s stock valued at $167,744,000 after buying an additional 2,490,524 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 valued at $318,336,000 after buying an additional 1,440,166 shares during the last quarter. FMR LLC raised its stake in National Retail Properties by 17.6% during the 1st quarter. FMR LLC now owns 3,882,238 shares of the real estate investment trust’s stock valued at $215,038,000 after buying an additional 581,343 shares during the last quarter. Neuberger Berman Group LLC raised its stake in National Retail Properties by 110.6% during the 1st quarter. Neuberger Berman Group LLC now owns 1,056,370 shares of the real estate investment trust’s stock valued at $58,512,000 after buying an additional 554,810 shares during the last quarter. Finally, BlackRock Inc. raised its stake 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 valued at $1,290,878,000 after buying an additional 423,636 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Wells Fargo & Co set a $62.00 target price on shares of National Retail Properties and gave the company a “buy” rating in a research note on Tuesday, September 3rd. ValuEngine lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of National Retail Properties from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Raymond James set a $57.00 target price on shares of National Retail Properties and gave the company a “hold” rating in a research note on Monday, May 20th. Finally, Zacks Investment Research lowered shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.14.

Shares of NNN stock traded down $0.18 during mid-day trading on Friday, reaching $54.21. 81,643 shares of the company’s stock traded hands, compared to its average volume of 1,153,063. National Retail Properties, Inc. has a 12 month low of $42.97 and a 12 month high of $57.80. The firm has a 50 day moving average price of $54.64 and a two-hundred day moving average price of $53.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $8.84 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 6.36 and a beta of 0.13.

National Retail Properties (NYSE:NNN) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.25). National Retail Properties had a net margin of 43.14% and a return on equity of 7.88%. The business had revenue of $164.80 million for the quarter, compared to the consensus estimate of $163.73 million. During the same period in the previous year, the firm earned $0.68 EPS. The company’s revenue was up 6.0% on a year-over-year basis. As a group, equities analysts expect that National Retail Properties, Inc. will post 2.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.515 per share. This is an increase from National Retail Properties’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.80%. National Retail Properties’s payout ratio is presently 76.87%.

In other news, EVP Michelle Lynn Miller sold 1,700 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $55.44, for a total transaction of $94,248.00. Following the completion of the sale, the executive vice president now owns 39,454 shares of the company’s stock, valued at approximately $2,187,329.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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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