Principal Financial Group Inc. Sells 49,562 Shares of National Retail Properties, Inc. (NNN)

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Principal Financial Group Inc. cut its position in shares of National Retail Properties, Inc. (NYSE:NNN) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,561,426 shares of the real estate investment trust’s stock after selling 49,562 shares during the quarter. Principal Financial Group Inc. owned approximately 0.98% of National Retail Properties worth $75,745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its holdings in National Retail Properties by 160.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 19,507 shares of the real estate investment trust’s stock valued at $875,000 after purchasing an additional 12,011 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in National Retail Properties by 3.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 691,181 shares of the real estate investment trust’s stock valued at $30,979,000 after purchasing an additional 25,711 shares during the period. JPMorgan Chase & Co. grew its holdings in National Retail Properties by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 4,694,518 shares of the real estate investment trust’s stock valued at $210,409,000 after purchasing an additional 509,019 shares during the period. Toronto Dominion Bank grew its holdings in National Retail Properties by 9.0% in the third quarter. Toronto Dominion Bank now owns 16,713 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 1,375 shares during the period. Finally, MML Investors Services LLC purchased a new stake in National Retail Properties in the third quarter valued at approximately $254,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

In other news, CFO Kevin B. Habicht sold 19,641 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $52.08, for a total transaction of $1,022,903.28. Following the transaction, the chief financial officer now directly owns 136,502 shares of the company’s stock, valued at $7,109,024.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Julian E. Whitehurst sold 34,045 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $52.64, for a total transaction of $1,792,128.80. Following the transaction, the chief executive officer now directly owns 384,788 shares in the company, valued at $20,255,240.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,431 shares of company stock worth $4,678,142. Corporate insiders own 0.78% of the company’s stock.

Shares of NNN stock opened at $54.32 on Friday. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 4.39 and a beta of 0.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 7.35 and a current ratio of 7.35. National Retail Properties, Inc. has a fifty-two week low of $36.95 and a fifty-two week high of $54.56.

National Retail Properties (NYSE:NNN) last announced its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.46). The business had revenue of $158.83 million for the quarter, compared to analyst estimates of $157.82 million. National Retail Properties had a net margin of 46.97% and a return on equity of 8.63%. As a group, equities research analysts anticipate that National Retail Properties, Inc. will post 2.74 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on NNN shares. Royal Bank of Canada downgraded shares of National Retail Properties from an “outperform” rating to a “sector perform” rating in a report on Friday, December 14th. Raymond James upgraded shares of National Retail Properties from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 8th. LADENBURG THALM/SH SH downgraded shares of National Retail Properties from a “buy” rating to a “neutral” rating in a report on Monday, February 11th. B. Riley downgraded shares of National Retail Properties from a “buy” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $55.00 in a report on Wednesday, February 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of National Retail Properties in a research report on Monday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. National Retail Properties has a consensus rating of “Hold” and a consensus target price of $50.33.

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National Retail Properties Company Profile

National Retail Properties, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It also acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984 and is headquartered in Orlando, FL.

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Institutional Ownership by Quarter for National Retail Properties (NYSE:NNN)

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