National Retail Properties (NNN) Insider Julian E. Whitehurst Sells 17,413 Shares of Stock

National Retail Properties (NYSE:NNN) insider Julian E. Whitehurst sold 17,413 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $41.46, for a total value of $721,942.98. Following the completion of the sale, the insider now directly owns 294,826 shares in the company, valued at approximately $12,223,485.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

National Retail Properties (NYSE NNN) traded up 1.02% during mid-day trading on Friday, hitting $41.57. The company had a trading volume of 935,248 shares. The company has a market cap of $6.20 billion, a PE ratio of 31.23 and a beta of 0.38. National Retail Properties has a one year low of $36.45 and a one year high of $52.27. The company’s 50 day moving average price is $40.18 and its 200-day moving average price is $41.32.

National Retail Properties (NYSE:NNN) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.29. National Retail Properties had a net margin of 44.17% and a return on equity of 8.22%. The firm had revenue of $145.55 million during the quarter, compared to analyst estimates of $142.83 million. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that National Retail Properties will post $1.46 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a $0.475 dividend. This is an increase from National Retail Properties’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, July 27th. This represents a $1.90 annualized dividend and a dividend yield of 4.57%. National Retail Properties’s dividend payout ratio (DPR) is currently 142.86%.

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Several hedge funds have recently added to or reduced their stakes in NNN. BlackRock Inc. increased its stake in National Retail Properties by 2,977.1% in the first quarter. BlackRock Inc. now owns 17,693,266 shares of the real estate investment trust’s stock valued at $771,779,000 after buying an additional 17,118,260 shares in the last quarter. State Street Corp increased its stake in National Retail Properties by 15.2% in the first quarter. State Street Corp now owns 12,243,236 shares of the real estate investment trust’s stock valued at $534,055,000 after buying an additional 1,616,397 shares in the last quarter. FMR LLC increased its stake in National Retail Properties by 49.2% in the second quarter. FMR LLC now owns 3,152,173 shares of the real estate investment trust’s stock valued at $123,249,000 after buying an additional 1,039,236 shares in the last quarter. Victory Capital Management Inc. increased its stake in National Retail Properties by 35.3% in the second quarter. Victory Capital Management Inc. now owns 3,910,662 shares of the real estate investment trust’s stock valued at $152,907,000 after buying an additional 1,020,200 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in National Retail Properties by 3.0% in the first quarter. Vanguard Group Inc. now owns 23,620,499 shares of the real estate investment trust’s stock valued at $1,030,326,000 after buying an additional 689,840 shares in the last quarter. 89.86% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on NNN. BidaskClub raised National Retail Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered National Retail Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.67.

About National Retail Properties

National Retail Properties, Inc is a real estate investment trust (REIT). The Company acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. As of December 31, 2016, it owned 2,535 properties with an aggregate gross leasable area of approximately 27,204,000 square feet, located in 48 states.