First Financial Bank Trust Division trimmed its holdings in shares of National Retail Properties, Inc. (NYSE:NNN) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,761 shares of the real estate investment trust’s stock after selling 206 shares during the quarter. First Financial Bank Trust Division owned 0.07% of National Retail Properties worth $6,245,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services boosted its position in National Retail Properties by 659.8% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 33,885 shares of the real estate investment trust’s stock worth $1,877,000 after purchasing an additional 29,425 shares during the period. Deutsche Bank AG boosted its position in shares of National Retail Properties by 32.2% in the fourth quarter. Deutsche Bank AG now owns 789,347 shares of the real estate investment trust’s stock valued at $38,289,000 after acquiring an additional 192,380 shares during the period. FCA Corp TX bought a new position in shares of National Retail Properties in the fourth quarter valued at approximately $194,000. Pinnacle Bank bought a new position in shares of National Retail Properties in the fourth quarter valued at approximately $77,000. Finally, American Century Companies Inc. purchased a new stake in National Retail Properties in the fourth quarter valued at approximately $14,709,000. 90.47% of the stock is currently owned by institutional investors.
In other National Retail Properties news, insider Paul Eugene Bayer sold 6,743 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $55.55, for a total value of $374,573.65. Following the sale, the insider now owns 133,072 shares in the company, valued at $7,392,149.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michelle Lynn Miller sold 1,200 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $54.18, for a total value of $65,016.00. Following the completion of the sale, the executive vice president now owns 35,654 shares in the company, valued at approximately $1,931,733.72. The disclosure for this sale can be found here. Insiders have sold a total of 97,374 shares of company stock valued at $5,117,732 over the last quarter. Corporate insiders own 0.70% of the company’s stock.
National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.46). The business had revenue of $158.83 million for the quarter, compared to analysts’ expectations of $157.82 million. National Retail Properties had a net margin of 46.97% and a return on equity of 8.63%. As a group, research analysts predict that National Retail Properties, Inc. will post 2.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, April 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.91%. National Retail Properties’s dividend payout ratio is currently 74.63%.
A number of brokerages recently weighed in on NNN. B. Riley downgraded shares of National Retail Properties from a “buy” rating to a “neutral” rating and raised their target price for the company from $50.00 to $55.00 in a research note on Wednesday, February 13th. Zacks Investment Research downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. LADENBURG THALM/SH SH downgraded shares of National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. Finally, Raymond James raised shares of National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. National Retail Properties presently has a consensus rating of “Hold” and an average target price of $50.33.
About National Retail Properties
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2018, the company owned 2,969 properties in 48 states with a gross leasable area of approximately 30.5 million square feet and with a weighted average remaining lease term of 11.5 years.
Further Reading: SEC Filing
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