Canada Pension Plan Investment Board Has $4.39 Million Holdings in National Retail Properties, Inc.

Canada Pension Plan Investment Board boosted its stake in National Retail Properties, Inc. (NYSE:NNN) by 60.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 90,400 shares of the real estate investment trust’s stock after purchasing an additional 34,100 shares during the period. Canada Pension Plan Investment Board’s holdings in National Retail Properties were worth $4,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Cigna Investments Inc. New boosted its stake in National Retail Properties by 8.6% during the fourth quarter. Cigna Investments Inc. New now owns 4,687 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 372 shares in the last quarter. Stevens Capital Management LP bought a new position in National Retail Properties during the fourth quarter valued at about $2,410,000. WINTON GROUP Ltd boosted its stake in National Retail Properties by 51.7% during the fourth quarter. WINTON GROUP Ltd now owns 400,651 shares of the real estate investment trust’s stock valued at $19,436,000 after buying an additional 136,543 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in National Retail Properties by 5,766.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,965,502 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 6,846,768 shares in the last quarter. Finally, Cutler Group LP boosted its stake in National Retail Properties by 384.4% during the fourth quarter. Cutler Group LP now owns 930 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 738 shares in the last quarter. 90.48% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, CFO Kevin B. Habicht sold 3,606 shares of the company’s stock in a transaction on Friday, December 7th. The stock was sold at an average price of $50.73, for a total transaction of $182,932.38. Following the completion of the sale, the chief financial officer now directly owns 117,581 shares of the company’s stock, valued at $5,964,884.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Paul Tessitore sold 23,000 shares of the company’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $52.19, for a total value of $1,200,370.00. Following the sale, the insider now directly owns 111,237 shares of the company’s stock, valued at $5,805,459.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,651 shares of company stock valued at $3,175,431. 0.78% of the stock is currently owned by company insiders.

Several research analysts recently weighed in on NNN shares. Royal Bank of Canada cut National Retail Properties from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 14th. Raymond James raised National Retail Properties from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. LADENBURG THALM/SH SH cut National Retail Properties from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. B. Riley raised their target price on National Retail Properties from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 5th. Finally, Zacks Investment Research raised National Retail Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $50.33.

Shares of NYSE NNN opened at $51.80 on Friday. National Retail Properties, Inc. has a 12 month low of $36.95 and a 12 month high of $54.56. The firm has a market cap of $8.37 billion, a PE ratio of 19.33, a P/E/G ratio of 4.35 and a beta of 0.31. The company has a debt-to-equity ratio of 0.81, a current ratio of 7.35 and a quick ratio of 7.35.

The business also recently announced a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Thursday, January 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Wednesday, January 30th. National Retail Properties’s dividend payout ratio is 74.63%.

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National Retail Properties Profile

National Retail Properties invests primarily in high-quality retail properties subject generally to long term, net leases. As of September 30, 2018, the company owned 2,847 properties in 48 states with a gross leasable area of approximately 29.7 million square feet and with a weighted average remaining lease term of 11.4 years.

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