Wells Fargo & Company Position in Cdn Imperial Bk Comm Toronto (CM) Boosted as Share Value Declined; As National Retail Pptys (NNN) Stock Price Rose, Apg Asset Management Us Trimmed Stake by $6.37 Million

June 14, 2018 - By Peter Erickson

Canadian Imperial Bank of Commerce (NYSE:CM) Logo

Apg Asset Management Us Inc decreased its stake in National Retail Pptys Inc (NNN) by 20.41% based on its latest 2018Q1 regulatory filing with the SEC. Apg Asset Management Us Inc sold 163,264 shares as the company’s stock rose 4.98% while stock markets declined. The institutional investor held 636,736 shares of the real estate investment trusts company at the end of 2018Q1, valued at $25.00 million, down from 800,000 at the end of the previous reported quarter. Apg Asset Management Us Inc who had been investing in National Retail Pptys Inc for a number of months, seems to be less bullish one the $6.49B market cap company. The stock increased 1.44% or $0.6 during the last trading session, reaching $42.17. About 949,390 shares traded or 6.78% up from the average. National Retail Properties, Inc. (NYSE:NNN) has risen 6.62% since June 14, 2017 and is uptrending. It has underperformed by 5.95% the S&P500. Some Historical NNN News: 01/05/2018 – Record First Quarter 2018 Operating Results And Increased 2018 Guidance Announced By National Retail Properties, Inc; 01/05/2018 – Natl Retail Properties 1Q FFO 67c/Shr; 01/05/2018 – Natl Retail Properties 1Q EPS 62c; 01/05/2018 – Natl Retail Properties 1Q Rev $152.8M; 16/04/2018 Common Dividend Declared by National Retail Properties, Inc

Wells Fargo & Company increased its stake in Cdn Imperial Bk Comm Toronto (CM) by 9.48% based on its latest 2018Q1 regulatory filing with the SEC. Wells Fargo & Company bought 66,352 shares as the company’s stock declined 5.54% with the market. The institutional investor held 766,623 shares of the commercial banks company at the end of 2018Q1, valued at $67.68 million, up from 700,271 at the end of the previous reported quarter. Wells Fargo & Company who had been investing in Cdn Imperial Bk Comm Toronto for a number of months, seems to be bullish on the $39.39 billion market cap company. The stock decreased 1.27% or $1.13 during the last trading session, reaching $88. About 242,672 shares traded. Canadian Imperial Bank of Commerce (NYSE:CM) has risen 13.41% since June 14, 2017 and is uptrending. It has outperformed by 0.84% the S&P500.

Among 15 analysts covering Canadian Imperial Bank Of Commerce (NYSE:CM), 6 have Buy rating, 2 Sell and 7 Hold. Therefore 40% are positive. Canadian Imperial Bank Of Commerce had 30 analyst reports since August 4, 2015 according to SRatingsIntel. The firm earned “Sector Perform” rating on Friday, August 28 by RBC Capital Markets. Credit Agricole downgraded Canadian Imperial Bank of Commerce (NYSE:CM) rating on Monday, December 7. Credit Agricole has “Underperform” rating and $112 target. The company was initiated on Wednesday, September 21 by Dundee Securities. BMO Capital Markets maintained the shares of CM in report on Friday, August 26 with “Market Perform” rating. The stock has “Sell” rating by Zacks on Monday, September 7. On Thursday, August 27 the stock rating was maintained by Canaccord Genuity with “Hold”. Zacks upgraded the stock to “Hold” rating in Monday, September 21 report. The stock of Canadian Imperial Bank of Commerce (NYSE:CM) earned “Mkt Perform” rating by Keefe Bruyette & Woods on Friday, February 24. Credit Suisse upgraded Canadian Imperial Bank of Commerce (NYSE:CM) on Friday, March 31 to “Neutral” rating. Citigroup downgraded Canadian Imperial Bank of Commerce (NYSE:CM) on Wednesday, October 25 to “Neutral” rating.

Wells Fargo & Company, which manages about $337.90B US Long portfolio, decreased its stake in Vanguard Index Fds (VB) by 541,674 shares to 3.60 million shares, valued at $528.35 million in 2018Q1, according to the filing. It also reduced its holding in Unilever N V (NYSE:UN) by 65,415 shares in the quarter, leaving it with 1.82M shares, and cut its stake in Habit Restaurants Inc.

More notable recent Canadian Imperial Bank of Commerce (NYSE:CM) news were published by: Fool.ca which released: “A Foolproof Stock-Picking Strategy” on June 08, 2018, also Nasdaq.com with their article: “Consolidated Research: 2018 Summary Expectations for Seaspan, Canadian Imperial Bank of Commerce, Bank Of …” published on June 01, 2018, Seekingalpha.com published: “CIBC plans to buy back up to 9M shares; FQ2 mortgage growth slows” on May 23, 2018. More interesting news about Canadian Imperial Bank of Commerce (NYSE:CM) were released by: Seekingalpha.com and their article: “Bank cyber attacks reported in Canada” published on May 29, 2018 as well as Seekingalpha.com‘s news article titled: “Wall Street Breakfast: Turmoil In Italy Raises Euro Stakes” with publication date: May 29, 2018.

Analysts await National Retail Properties, Inc. (NYSE:NNN) to report earnings on August, 7. They expect $0.66 earnings per share, up 1.54% or $0.01 from last year’s $0.65 per share. NNN’s profit will be $101.54 million for 15.97 P/E if the $0.66 EPS becomes a reality. After $0.67 actual earnings per share reported by National Retail Properties, Inc. for the previous quarter, Wall Street now forecasts -1.49% negative EPS growth.

More news for National Retail Properties, Inc. (NYSE:NNN) were recently published by: Seekingalpha.com, which released: “Hersha Hospitality Trust: An Unusual Divergence Creates A 7% Yield For Dividend Investors” on June 01, 2018. Seekingalpha.com‘s article titled: “Tanger Factory Outlet Centers: A Dividend Aristocrat On Sale” and published on June 12, 2018 is yet another important article.

Among 15 analysts covering National Retail Properties (NYSE:NNN), 8 have Buy rating, 0 Sell and 7 Hold. Therefore 53% are positive. National Retail Properties had 31 analyst reports since July 23, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Friday, January 29 by Stifel Nicolaus. The stock of National Retail Properties, Inc. (NYSE:NNN) earned “Buy” rating by RBC Capital Markets on Thursday, February 15. As per Sunday, August 20, the company rating was maintained by Stifel Nicolaus. The rating was maintained by FBR Capital with “Buy” on Tuesday, February 13. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, December 30. On Sunday, September 24 the stock rating was maintained by Stifel Nicolaus with “Buy”. FBR Capital maintained National Retail Properties, Inc. (NYSE:NNN) on Friday, February 12 with “Outperform” rating. The firm has “Neutral” rating by DA Davidson given on Thursday, July 23. FBR Capital initiated the shares of NNN in report on Wednesday, October 12 with “Outperform” rating. The stock of National Retail Properties, Inc. (NYSE:NNN) has “Buy” rating given on Thursday, November 2 by Ladenburg.

Apg Asset Management Us Inc, which manages about $71.11 billion and $11.67B US Long portfolio, upped its stake in Realty Income Corp (NYSE:O) by 157,500 shares to 3.04 million shares, valued at $157.23 million in 2018Q1, according to the filing. It also increased its holding in Ventas Inc (NYSE:VTR) by 2.59M shares in the quarter, for a total of 17.34 million shares, and has risen its stake in Equity Residential (NYSE:EQR).

National Retail Properties, Inc. (NYSE:NNN) Institutional Positions Chart

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