Westwood Holdings Group Inc. reduced its stake in shares of National Retail Properties (NYSE:NNN) by 48.4% during the first quarter, Holdings Channel reports. The fund owned 10,174 shares of the real estate investment trust’s stock after selling 9,537 shares during the period. Westwood Holdings Group Inc.’s holdings in National Retail Properties were worth $444,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of National Retail Properties during the first quarter valued at about $122,000. Pinnacle Bank acquired a new stake in shares of National Retail Properties during the first quarter valued at about $179,000. Greenleaf Trust acquired a new stake in shares of National Retail Properties during the first quarter valued at about $209,000. Boothbay Fund Management LLC acquired a new stake in shares of National Retail Properties during the fourth quarter valued at about $231,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of National Retail Properties during the first quarter valued at about $232,000. Hedge funds and other institutional investors own 89.20% of the company’s stock.
National Retail Properties (NNN) traded up 1.13% during mid-day trading on Wednesday, reaching $39.49. 61,175 shares of the company’s stock were exchanged. National Retail Properties has a 52-week low of $36.45 and a 52-week high of $53.60. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 30.54 and a beta of 0.41. The company has a 50-day moving average of $38.59 and a 200-day moving average of $42.60.
National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.27. The firm had revenue of $141.43 million during the quarter, compared to the consensus estimate of $141.51 million. National Retail Properties had a net margin of 44.24% and a return on equity of 8.07%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. Equities research analysts anticipate that National Retail Properties will post $1.54 earnings per share for the current year.
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Separately, BidaskClub upgraded shares of National Retail Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. National Retail Properties presently has a consensus rating of “Hold” and a consensus target price of $52.67.
In other news, insider Julian E. Whitehurst sold 15,000 shares of National Retail Properties stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $43.76, for a total value of $656,400.00. Following the completion of the transaction, the insider now owns 271,586 shares in the company, valued at $11,884,603.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.03% of the stock is owned by company insiders.
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.
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