National Retail Properties, Inc. (NYSE:NNN) Shares Purchased by abrdn plc

abrdn plc raised its holdings in shares of National Retail Properties, Inc. (NYSE:NNN – Get Rating) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,102 shares of the real estate investment trust’s stock after buying an additional 1,226 shares during the period. abrdn plc’s holdings in National Retail Properties were worth $2,837,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in National Retail Properties by 12.5% in the fourth quarter. State Street Corp now owns 18,330,427 shares of the real estate investment trust’s stock valued at $881,144,000 after acquiring an additional 2,037,833 shares in the last quarter. Victory Capital Management Inc. raised its holdings in National Retail Properties by 11.1% in the fourth quarter. Victory Capital Management Inc. now owns 7,109,790 shares of the real estate investment trust’s stock valued at $341,768,000 after acquiring an additional 709,779 shares in the last quarter. Geode Capital Management LLC raised its holdings in National Retail Properties by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 2,941,048 shares of the real estate investment trust’s stock valued at $141,376,000 after acquiring an additional 87,655 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in National Retail Properties by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,951,689 shares of the real estate investment trust’s stock valued at $93,818,000 after acquiring an additional 67,529 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in National Retail Properties by 6.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,882,290 shares of the real estate investment trust’s stock valued at $90,482,000 after acquiring an additional 118,101 shares in the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

National Retail Properties Stock Up 1.1 %

National Retail Properties stock opened at $47.61 on Monday. The company has a 50-day simple moving average of $43.80 and a 200-day simple moving average of $43.99. The firm has a market capitalization of $8.38 billion, a P/E ratio of 28.51, a P/E/G ratio of 3.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.50 and a current ratio of 1.50. National Retail Properties, Inc. has a one year low of $39.12 and a one year high of $49.94.

National Retail Properties (NYSE:NNN – Get Rating) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $190.28 million during the quarter, compared to analyst estimates of $186.63 million. National Retail Properties had a net margin of 42.73% and a return on equity of 8.05%. National Retail Properties’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. As a group, equities analysts expect that National Retail Properties, Inc. will post 3.12 earnings per share for the current year.

National Retail Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 4.62%. This is an increase from National Retail Properties’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, July 28th. National Retail Properties’s dividend payout ratio is presently 131.74%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley cut shares of National Retail Properties from an “overweight” rating to an “equal weight” rating and set a $45.00 price target on the stock. in a report on Tuesday, July 12th. Credit Suisse Group initiated coverage on shares of National Retail Properties in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $46.00 target price for the company. Stifel Nicolaus lowered their target price on shares of National Retail Properties from $56.00 to $53.00 in a research note on Tuesday, May 3rd. StockNews.com upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Colliers Securities lowered their target price on shares of National Retail Properties to $49.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, National Retail Properties has a consensus rating of “Hold” and a consensus target price of $49.22.

About National Retail Properties

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National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.

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