NNN REIT, Inc. (NYSE:NNN) Given Consensus Recommendation of “Reduce” by Brokerages

NNN REIT, Inc. (NYSE:NNN) has earned an average recommendation of “Reduce” from the eight brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $44.8333.

A number of analysts have weighed in on NNN shares. UBS Group upped their price target on NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, March 9th. Wells Fargo & Company boosted their target price on shares of NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised shares of NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Tuesday, January 20th. Stifel Nicolaus set a $48.50 target price on shares of NNN REIT in a research note on Wednesday, February 11th. Finally, BNP Paribas Exane boosted their target price on NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a report on Thursday, February 12th.

Insiders Place Their Bets

In related news, CEO Stephen A. Horn, Jr. sold 33,192 shares of NNN REIT stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $44.98, for a total value of $1,492,976.16. Following the completion of the transaction, the chief executive officer directly owned 822,711 shares of the company’s stock, valued at $37,005,540.78. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Adamo sold 6,000 shares of NNN REIT stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $44.99, for a total value of $269,940.00. Following the completion of the transaction, the executive vice president directly owned 126,358 shares of the company’s stock, valued at $5,684,846.42. This represents a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NNN REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake 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 worth $3,082,000 after acquiring an additional 62,299 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of NNN REIT by 8.0% during the fourth quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock valued at $20,000,000 after purchasing an additional 34,852 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of NNN REIT during the fourth quarter valued at approximately $1,300,000. Horizon Investments LLC increased its holdings 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 purchasing an additional 30,333 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new stake in shares of NNN REIT in the third quarter valued at approximately $879,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Trading Up 0.1%

NNN stock opened at $44.98 on Friday. 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 firm has a market cap of $8.54 billion, a P/E ratio of 21.73, a P/E/G ratio of 3.31 and a beta of 0.83. NNN REIT has a 1-year low of $35.80 and a 1-year high of $46.03. The business’s 50 day moving average is $43.20 and its 200-day moving average is $42.00.

NNN REIT Dividend Announcement

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

NNN REIT Company Profile

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.