NNN REIT (NYSE:NNN) Reaches New 52-Week High – Should You Buy?

NNN REIT, Inc. (NYSE:NNN)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $45.65 and last traded at $45.57, with a volume of 647830 shares traded. The stock had previously closed at $44.98.

Analyst Ratings Changes

NNN has been the subject of a number of recent research reports. UBS Group decreased their target price on NNN REIT from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Evercore lowered their price objective on NNN REIT from $44.00 to $43.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Deutsche Bank Aktiengesellschaft upgraded shares of NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Tuesday, January 20th. Stifel Nicolaus set a $48.50 price target on shares of NNN REIT in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NNN REIT in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $44.61.

NNN REIT Stock Up 1.2%

The business has a 50 day moving average of $41.95 and a 200-day moving average of $41.73. The stock has a market cap of $8.65 billion, a PE ratio of 21.98, a P/E/G ratio of 3.26 and a beta of 0.86. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, January 30th. NNN REIT’s dividend payout ratio is presently 115.94%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in shares of NNN REIT by 616.2% in the 3rd quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock worth $3,082,000 after acquiring an additional 62,299 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of NNN REIT by 8.0% in the 4th quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock valued at $20,000,000 after buying an additional 34,852 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of NNN REIT in the 4th quarter valued at approximately $1,300,000. Horizon Investments LLC boosted its stake in shares of NNN REIT by 65.0% in the third quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust’s stock valued at $3,230,000 after buying an additional 30,333 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in NNN REIT during the third quarter worth $879,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

About NNN REIT

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.