NNN REIT (NYSE:NNN) Sets New 1-Year High – Time to Buy?

NNN REIT, Inc. (NYSE:NNN) shares reached a new 52-week high on Friday . The company 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NNN. Deutsche Bank Aktiengesellschaft upgraded 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. B. Riley Financial reissued a “neutral” rating and set a $43.00 price objective (down from $44.00) on shares of NNN REIT in a research note on Friday, November 14th. BNP Paribas Exane raised their target price on NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a research note on Thursday, February 12th. Stifel Nicolaus set a $48.50 price target on NNN REIT in a report on Wednesday, February 11th. Finally, Evercore dropped their price objective 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. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, NNN REIT has an average rating of “Reduce” and a consensus target price of $44.61.

NNN REIT Price Performance

The stock’s 50-day simple moving average is $41.95 and its 200 day simple moving average is $41.73. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 3.26 and a beta of 0.86.

NNN REIT Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in NNN REIT by 266.9% in 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 grew its holdings in shares of NNN REIT by 3.5% in the second quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust’s stock valued at $4,977,000 after purchasing an additional 3,897 shares in the last quarter. Fiduciary Alliance LLC increased its stake in NNN REIT by 21.0% during the 3rd 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 lifted its holdings in NNN REIT by 5.8% during the 3rd quarter. Adams Asset Advisors LLC now owns 43,112 shares of the real estate investment trust’s stock worth $1,835,000 after buying an additional 2,346 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in NNN REIT by 4.4% during the 3rd quarter. Sound Income Strategies LLC now owns 434,193 shares of the real estate investment trust’s stock worth $18,219,000 after buying an additional 18,135 shares in the last quarter. 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.