National Retail Properties, Inc. (NYSE:NNN) Shares Sold by Comerica Bank

Comerica Bank lessened its stake in shares of National Retail Properties, Inc. (NYSE:NNN – Get Rating) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,699 shares of the real estate investment trust’s stock after selling 1,342 shares during the quarter. Comerica Bank’s holdings in National Retail Properties were worth $3,414,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Cetera Advisors LLC lifted its position in shares of National Retail Properties by 3.2% during the 2nd quarter. Cetera Advisors LLC now owns 6,846 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 213 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of National Retail Properties by 2.1% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 10,620 shares of the real estate investment trust’s stock worth $457,000 after buying an additional 220 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of National Retail Properties by 1.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 16,820 shares of the real estate investment trust’s stock worth $723,000 after buying an additional 250 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of National Retail Properties by 1.6% during the 2nd quarter. Van ECK Associates Corp now owns 17,048 shares of the real estate investment trust’s stock worth $733,000 after buying an additional 262 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its position in shares of National Retail Properties by 0.9% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 29,444 shares of the real estate investment trust’s stock worth $1,266,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 87.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer started coverage on shares of National Retail Properties in a research report on Wednesday, October 19th. They set an “outperform” rating and a $48.00 price objective for the company. B. Riley reduced their price target on shares of National Retail Properties from $54.00 to $49.00 in a research report on Thursday, November 3rd. Raymond James downgraded shares of National Retail Properties from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $48.00 to $50.00 in a research report on Monday, January 9th. Morgan Stanley upped their price target on shares of National Retail Properties from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 2nd. Finally, StockNews.com downgraded shares of National Retail Properties from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, National Retail Properties has an average rating of “Hold” and an average price target of $48.70.

National Retail Properties Stock Down 1.0 %

Shares of National Retail Properties stock opened at $47.56 on Monday. The company has a market cap of $8.50 billion, a P/E ratio of 27.18, a PEG ratio of 3.86 and a beta of 0.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 0.60. National Retail Properties, Inc. has a one year low of $38.05 and a one year high of $48.76. The firm has a fifty day moving average of $45.77 and a two-hundred day moving average of $44.49.

National Retail Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, January 30th. This represents a $2.20 dividend on an annualized basis and a yield of 4.63%. National Retail Properties’s payout ratio is currently 125.71%.

National Retail Properties Profile

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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.