Allspring Global Investments Holdings LLC Sells 4,329 Shares of National Retail Properties, Inc. (NYSE:NNN)

Allspring Global Investments Holdings LLC lessened its stake in National Retail Properties, Inc. (NYSE:NNN – Get Rating) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,638 shares of the real estate investment trust’s stock after selling 4,329 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in National Retail Properties were worth $862,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cetera Advisors LLC raised its holdings in 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 valued at $294,000 after acquiring an additional 213 shares during the period. Brown Brothers Harriman & Co. raised its holdings in 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 valued at $457,000 after acquiring an additional 220 shares during the period. Crossmark Global Holdings Inc. raised its holdings in 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 valued at $723,000 after acquiring an additional 250 shares during the period. Van ECK Associates Corp raised its holdings in 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 valued at $733,000 after acquiring an additional 262 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in 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 valued at $1,266,000 after acquiring an additional 273 shares during the period. Institutional investors own 87.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NNN. Oppenheimer began coverage on shares of National Retail Properties in a report on Wednesday, October 19th. They set an “outperform” rating and a $48.00 target price on the stock. B. Riley lowered their target price on shares of National Retail Properties from $54.00 to $49.00 in a report on Thursday, November 3rd. Raymond James lowered shares of National Retail Properties from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $50.00 in a research report on Monday, January 9th. StockNews.com upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, January 18th. Finally, Jefferies Financial Group upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $42.00 to $52.00 in a research report on Monday, January 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, National Retail Properties currently has a consensus rating of “Moderate Buy” and an average target price of $48.89.

National Retail Properties Stock Up 0.8 %

Shares of NYSE:NNN opened at $47.11 on Monday. National Retail Properties, Inc. has a 52-week low of $38.05 and a 52-week high of $48.76. The firm has a fifty day moving average of $46.08 and a 200 day moving average of $44.60. The firm has a market capitalization of $8.42 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 3.82 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $2.20 annualized dividend and a yield of 4.67%. National Retail Properties’s dividend payout ratio (DPR) is presently 125.71%.

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.