Brokerages Set NNN REIT, Inc. (NYSE:NNN) PT at $44.83

NNN REIT, Inc. (NYSE:NNN) has earned an average rating of “Reduce” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $44.8333.

NNN has been the subject of several recent research reports. Stifel Nicolaus set a $48.50 price target on NNN REIT in a research report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NNN REIT in a research note on Thursday, January 22nd. Evercore cut their target price on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating for the company in a report on Monday, December 15th. BNP Paribas Exane boosted their target price on shares of NNN REIT from $43.00 to $44.00 and gave the company a “strong sell” rating in a research note on Thursday, February 12th. Finally, Raymond James Financial reissued a “market perform” rating on shares of NNN REIT in a report on Tuesday, March 17th.

NNN REIT Price Performance

Shares of NNN opened at $42.80 on Thursday. The business’s 50-day moving average is $43.59 and its two-hundred day moving average is $42.02. The company has a market capitalization of $8.14 billion, a P/E ratio of 20.67, a P/E/G ratio of 5.61 and a beta of 0.85. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. NNN REIT has a fifty-two week low of $35.80 and a fifty-two week high of $46.03.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, January 30th. NNN REIT’s dividend payout ratio is presently 115.94%.

Insider Transactions 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 transaction, the executive vice president directly owned 126,358 shares in the company, valued at approximately $5,684,846.42. This represents a 4.53% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the transaction, the chief executive officer owned 822,711 shares of the company’s stock, valued at approximately $37,005,540.78. This trade represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NNN. EverSource Wealth Advisors LLC grew its stake in NNN REIT by 266.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,540 shares of the real estate investment trust’s stock valued at $239,000 after acquiring an additional 4,030 shares in the last quarter. Captrust Financial Advisors raised its holdings in NNN REIT by 3.5% in the 2nd quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust’s stock valued at $4,977,000 after buying an additional 3,897 shares during the period. Fiduciary Alliance LLC boosted its stake in NNN REIT by 21.0% during the third quarter. Fiduciary Alliance LLC now owns 5,699 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 991 shares during the period. Adams Asset Advisors LLC increased its position in shares of NNN REIT by 5.8% during the third quarter. Adams Asset Advisors LLC now owns 43,112 shares of the real estate investment trust’s stock valued at $1,835,000 after acquiring an additional 2,346 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of NNN REIT by 4.4% during the third quarter. Sound Income Strategies LLC now owns 434,193 shares of the real estate investment trust’s stock valued at $18,219,000 after acquiring an additional 18,135 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.