First National Bank of Mount Dora Trust Investment Services raised its holdings in National Retail Properties, Inc. (NYSE:NNN) by 659.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,885 shares of the real estate investment trust’s stock after purchasing an additional 29,425 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in National Retail Properties were worth $1,877,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NNN. Cutler Group LP raised its position in National Retail Properties by 384.4% during the 4th quarter. Cutler Group LP now owns 930 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 738 shares during the last quarter. ERTS Wealth Advisors LLC bought a new position in shares of National Retail Properties in the 4th quarter worth about $69,000. Pinnacle Bank bought a new position in shares of National Retail Properties in the 4th quarter worth about $77,000. Capital Investment Advisory Services LLC bought a new position in shares of National Retail Properties in the 4th quarter worth about $94,000. Finally, Brand Asset Management Group Inc. bought a new position in shares of National Retail Properties in the 4th quarter worth about $107,000. 90.47% of the stock is currently owned by institutional investors.
NNN stock traded up $0.88 during mid-day trading on Wednesday, reaching $52.34. 1,026,740 shares of the company traded hands, compared to its average volume of 1,024,823. The company has a market capitalization of $8.44 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 4.26 and a beta of 0.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 7.35 and a current ratio of 7.35. National Retail Properties, Inc. has a fifty-two week low of $37.07 and a fifty-two week high of $55.87.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.82%. National Retail Properties’s dividend payout ratio (DPR) is presently 74.63%.
In related news, insider Paul Eugene Bayer sold 12,745 shares of National Retail Properties stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $52.00, for a total value of $662,740.00. Following the sale, the insider now owns 139,815 shares of the company’s stock, valued at approximately $7,270,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michelle Lynn Miller sold 1,200 shares of National Retail Properties stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $54.18, for a total transaction of $65,016.00. Following the completion of the sale, the executive vice president now directly owns 35,654 shares in the company, valued at approximately $1,931,733.72. The disclosure for this sale can be found here. Insiders sold a total of 97,374 shares of company stock worth $5,117,732 in the last ninety days. 0.70% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on the company. Zacks Investment Research lowered National Retail Properties from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. B. Riley downgraded 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. Raymond James upgraded National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. Finally, LADENBURG THALM/SH SH downgraded National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $50.33.
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National Retail Properties Company Profile
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.
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