Short Interest in NNN REIT, Inc. (NYSE:NNN) Increases By 20.2%

NNN REIT, Inc. (NYSE:NNN) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 7,408,368 shares, an increase of 20.2% from the February 12th total of 6,165,739 shares. Currently, 3.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,415,601 shares, the short-interest ratio is presently 5.2 days. Based on an average daily trading volume, of 1,415,601 shares, the short-interest ratio is presently 5.2 days. Currently, 3.9% of the company’s shares are sold short.

Insider Activity at NNN REIT

In other NNN REIT news, 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 transaction of $269,940.00. Following the completion of the sale, the executive vice president owned 126,358 shares in the company, valued at approximately $5,684,846.42. The trade was a 4.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the stock in a transaction on Monday, March 9th. The shares were 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 in the company, valued at approximately $37,005,540.78. This trade represents a 3.88% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in 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 purchasing an additional 62,299 shares in the last quarter. Sound Income Strategies LLC boosted 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 in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of NNN REIT during the fourth quarter worth about $1,300,000. Horizon Investments LLC grew its holdings in shares of 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 worth $3,230,000 after purchasing an additional 30,333 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in shares of NNN REIT in the third quarter valued at approximately $879,000. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on NNN REIT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th. Robert W. Baird set a $46.00 target price on NNN REIT in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft upgraded NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Tuesday, January 20th. Stifel Nicolaus set a $48.50 price target on NNN REIT in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company lifted their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, six have given 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 price target of $44.83.

NNN REIT Price Performance

NNN stock traded down $0.17 during mid-day trading on Tuesday, hitting $45.06. The stock had a trading volume of 1,088,050 shares, compared to its average volume of 1,374,241. The firm has a fifty day simple moving average of $43.40 and a 200 day simple moving average of $42.04. The firm has a market capitalization of $8.56 billion, a P/E ratio of 21.77, a P/E/G ratio of 3.32 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. NNN REIT has a 52 week low of $35.80 and a 52 week high of $46.03.

NNN REIT Announces Dividend

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

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.