Van ECK Associates Corp Invests $1.42 Million in National Retail Properties, Inc. (NNN)

Van ECK Associates Corp purchased a new stake in shares of National Retail Properties, Inc. (NYSE:NNN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,369 shares of the real estate investment trust’s stock, valued at approximately $1,423,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Preferred LLC lifted its position in shares of National Retail Properties by 119.6% during the 2nd quarter. Advisors Preferred LLC now owns 2,471 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,346 shares during the last quarter. Asset Advisors Corp purchased a new position in shares of National Retail Properties during the 2nd quarter valued at $110,000. Gradient Investments LLC lifted its position in shares of National Retail Properties by 7,526.0% during the 2nd quarter. Gradient Investments LLC now owns 3,813 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 3,763 shares during the last quarter. Independent Advisor Alliance purchased a new stake in National Retail Properties during the 2nd quarter worth about $220,000. Finally, Ostrum Asset Management purchased a new stake in National Retail Properties during the 1st quarter worth about $232,000. 90.84% of the stock is currently owned by hedge funds and other institutional investors.

In other National Retail Properties news, insider Christopher Paul Tessitore sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $45.99, for a total value of $459,900.00. Following the sale, the insider now owns 108,686 shares of the company’s stock, valued at approximately $4,998,469.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michelle Lynn Miller sold 1,750 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $45.67, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 54,685 shares of company stock worth $2,511,863. Insiders own 0.78% of the company’s stock.

A number of analysts recently issued reports on NNN shares. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, July 4th. Stifel Nicolaus reissued a “buy” rating and set a $46.00 price objective on shares of National Retail Properties in a report on Wednesday, August 1st. B. Riley increased their price objective on National Retail Properties from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Citigroup increased their price objective on National Retail Properties from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. Finally, Janney Montgomery Scott cut National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $46.75.

NYSE:NNN opened at $45.07 on Tuesday. National Retail Properties, Inc. has a twelve month low of $36.25 and a twelve month high of $46.44. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 3.63 and a beta of 0.18. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.57 and a current ratio of 1.57.

National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the 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 business had revenue of $155.50 million during the quarter, compared to analysts’ expectations of $154.12 million. During the same period in the previous year, the business earned $0.64 EPS. The business’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that National Retail Properties, Inc. will post 2.68 earnings per share for the current fiscal year.

About National Retail Properties

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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