Jonathan Adamo Sells 6,000 Shares of NNN REIT (NYSE:NNN) Stock

NNN REIT, Inc. (NYSE:NNN) EVP Jonathan Adamo sold 6,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $44.99, for a total value of $269,940.00. Following the sale, the executive vice president owned 126,358 shares of the company’s stock, valued at approximately $5,684,846.42. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

NNN REIT Stock Performance

NNN stock traded up $0.31 during trading on Monday, reaching $45.43. The stock had a trading volume of 1,145,806 shares, compared to its average volume of 1,505,802. The firm has a market cap of $8.63 billion, a PE ratio of 21.95, a PEG ratio of 3.31 and a beta of 0.83. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average is $42.65 and its two-hundred day moving average is $41.90. NNN REIT, Inc. has a 52 week low of $35.80 and a 52 week high of $46.03.

NNN REIT Announces Dividend

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

Wall Street Analysts Forecast Growth

NNN has been the subject of several recent research reports. B. Riley Financial restated a “neutral” rating and set a $43.00 target price (down from $44.00) on shares of NNN REIT in a research report on Friday, November 14th. Evercore dropped their price target on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of NNN REIT in a research note on Thursday, January 22nd. Stifel Nicolaus set a $48.50 target price on NNN REIT in a report on Wednesday, February 11th. Finally, Wells Fargo & Company lifted their target price on NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, NNN REIT currently has an average rating of “Reduce” and an average price target of $44.61.

Hedge Funds Weigh In On NNN REIT

Hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC increased its stake in shares of NNN REIT by 8.0% in the fourth quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock worth $20,000,000 after purchasing an additional 34,852 shares in the last quarter. Captrust Financial Advisors boosted its holdings in NNN REIT by 17.3% in the 3rd quarter. Captrust Financial Advisors now owns 135,241 shares of the real estate investment trust’s stock worth $5,757,000 after buying an additional 19,976 shares during the period. Amalgamated Bank increased its stake in NNN REIT by 0.4% in the 3rd quarter. Amalgamated Bank now owns 86,483 shares of the real estate investment trust’s stock worth $3,682,000 after buying an additional 311 shares in the last quarter. Horizon Investments LLC raised its holdings in NNN REIT by 65.0% during 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 acquiring an additional 30,333 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of NNN REIT by 616.2% in the third quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock valued at $3,082,000 after acquiring an additional 62,299 shares in the last quarter. 89.96% of the stock is currently owned by 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.