Beacon Pointe Advisors LLC increased its position in National Retail Properties, Inc. (NYSE:NNN – Get Rating) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,032 shares of the real estate investment trust’s stock after purchasing an additional 450 shares during the period. Beacon Pointe Advisors LLC’s holdings in National Retail Properties were worth $1,423,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in National Retail Properties by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 26,142,210 shares of the real estate investment trust’s stock valued at $1,174,831,000 after buying an additional 305,161 shares during the last quarter. State Street Corp raised its position in National Retail Properties by 8.8% in the 1st quarter. State Street Corp now owns 19,941,222 shares of the real estate investment trust’s stock valued at $896,159,000 after buying an additional 1,610,795 shares during the last quarter. JPMorgan Chase & Co. raised its position in National Retail Properties by 0.7% in the 1st quarter. JPMorgan Chase & Co. now owns 5,100,316 shares of the real estate investment trust’s stock valued at $229,209,000 after buying an additional 34,496 shares during the last quarter. Federated Hermes Inc. raised its position in National Retail Properties by 29.0% in the 1st quarter. Federated Hermes Inc. now owns 2,556,747 shares of the real estate investment trust’s stock valued at $114,900,000 after buying an additional 574,203 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in National Retail Properties by 19.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,243,024 shares of the real estate investment trust’s stock valued at $100,801,000 after buying an additional 360,734 shares during the last quarter. 89.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on NNN. Citigroup raised their target price on National Retail Properties to $47.00 in a research report on Monday, August 15th. Raymond James decreased their target price on National Retail Properties from $52.00 to $48.00 and set a “strong-buy” rating for the company in a research report on Tuesday, October 4th. StockNews.com lowered National Retail Properties from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th. Oppenheimer began coverage on National Retail Properties in a research report on Wednesday, October 19th. They set an “outperform” rating and a $48.00 target price for the company. Finally, B. Riley decreased their target price on National Retail Properties from $54.00 to $49.00 in a research report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.30.
National Retail Properties Stock Down 1.2 %
National Retail Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were given a dividend of $0.55 per share. The ex-dividend date was Friday, October 28th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.81%. National Retail Properties’s dividend payout ratio (DPR) is presently 125.71%.
About National Retail Properties
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.
- Get a free copy of the StockNews.com research report on National Retail Properties (NNN)
- Microsoft Shares: Is it Time to Back Up the Truck?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Three CBD Stocks to Dominate a Budding Industry
Receive News & Ratings for National Retail Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Retail Properties and related companies with MarketBeat.com's FREE daily email newsletter.