Today: Today, Retirement Systems of Alabama invests in 3,914 by purchasing National Retail Properties (NNN) shares

Today, Retirement Systems of Alabama invests in 3,914 by purchasing National Retail Properties (NNN) shares

Retirement Systems of Alabama increased its position in shares of National Retail Properties (NYSE:NNN) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 185,787 shares of the real estate investment trust’s stock after buying an additional 3,914 shares during the period. Retirement Systems of Alabama’s holdings in National Retail Properties were worth $9,609,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NNN. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of National Retail Properties by 7.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,170 shares of the real estate investment trust’s stock valued at $1,394,000 after buying an additional 1,980 shares during the period. Teachers Advisors Inc. boosted its stake in shares of National Retail Properties by 28.7% in the first quarter. Teachers Advisors Inc. now owns 180,178 shares of the real estate investment trust’s stock worth $8,324,000 after buying an additional 40,229 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of National Retail Properties by 25.4% in the first quarter. Franklin Resources Inc. now owns 388,600 shares of the real estate investment trust’s stock worth $17,953,000 after buying an additional 78,600 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of National Retail Properties by 3.0% in the first quarter. BlackRock Fund Advisors now owns 5,462,530 shares of the real estate investment trust’s stock worth $252,369,000 after buying an additional 159,727 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of National Retail Properties by 3.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,091,929 shares of the real estate investment trust’s stock worth $235,247,000 after buying an additional 176,266 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

National Retail Properties (NYSE:NNN) traded down 1.27% during trading on Thursday, reaching $46.82. The company had a trading volume of 1,058,420 shares. The firm has a 50-day moving average of $50.17 and a 200-day moving average of $48.56. National Retail Properties has a 1-year low of $35.67 and a 1-year high of $53.60. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 35.63 and a beta of 0.35.

National Retail Properties (NYSE:NNN) last posted its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $130.92 million for the quarter, compared to analyst estimates of $129.73 million. National Retail Properties had a return on equity of 7.88% and a net margin of 43.41%. National Retail Properties’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, analysts anticipate that National Retail Properties will post $2.34 EPS for the current fiscal year.

A number of analysts have commented on NNN shares. Citigroup Inc. lifted their price target on National Retail Properties from $40.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Stifel Nicolaus lifted their price target on National Retail Properties from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, July 11th. Zacks Investment Research raised National Retail Properties from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Friday, July 15th. DA Davidson lifted their price target on National Retail Properties from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Finally, Wunderlich lifted their price target on National Retail Properties from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. National Retail Properties presently has an average rating of “Hold” and a consensus price target of $50.65.

In other National Retail Properties news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $51.17, for a total transaction of $51,170.00. Following the transaction, the executive vice president now owns 21,367 shares of the company’s stock, valued at $1,093,349.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Paul Tessitore sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $51.33, for a total value of $359,310.00. Following the transaction, the insider now directly owns 116,202 shares in the company, valued at approximately $5,964,648.66. The disclosure for this sale can be found here. Company insiders own 1.25% of the company’s stock.

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 held for investment. The Company owns over 2,050 Properties with a gross leasable area of approximately 24,964,000 square feet, located in approximately 50 states.

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