Allspring Global Investments Holdings LLC Has $862,000 Position in National Retail Properties, Inc. (NYSE:NNN)

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

A number of other institutional investors also recently modified their holdings of NNN. Meeder Asset Management Inc. lifted its position in shares of National Retail Properties by 97.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 627 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 309 shares during the period. Horizons Wealth Management acquired a new position in shares of National Retail Properties during the 2nd quarter valued at $53,000. Covestor Ltd lifted its position in shares of National Retail Properties by 88.6% during the 1st quarter. Covestor Ltd now owns 1,288 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 605 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of National Retail Properties during the 2nd quarter valued at $61,000. Finally, Ronald Blue Trust Inc. acquired a new position in shares of National Retail Properties during the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 87.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NNN shares. 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 note on Monday, January 2nd. StockNews.com upgraded shares of National Retail Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, January 18th. B. Riley decreased their price target on shares of National Retail Properties from $54.00 to $49.00 in a research note on Thursday, November 3rd. Morgan Stanley boosted their price target on shares of National Retail Properties from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 2nd. Finally, 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 note on Monday, January 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, National Retail Properties has an average rating of “Moderate Buy” and a consensus price target of $48.89.

National Retail Properties Stock Performance

NYSE NNN opened at $47.11 on Monday. National Retail Properties, Inc. has a 1 year low of $38.05 and a 1 year high of $48.76. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.82 and a beta of 0.87. The company has a fifty day moving average price of $46.08 and a 200-day moving average price of $44.60.

National Retail Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, January 30th. This represents a $2.20 dividend on an annualized basis 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.