NNN REIT, Inc. (NYSE:NNN) Receives $44.61 Consensus Target Price from Analysts

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

NNN has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. UBS Group raised their price target on shares of NNN REIT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday. BNP Paribas Exane lifted their price target on shares of NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a report on Thursday, February 12th. Evercore cut 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 research report on Monday, December 15th. Finally, 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.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $44.90 on Friday. The business’s fifty day moving average price is $43.09 and its two-hundred day moving average price is $41.98. The stock has a market cap of $8.53 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 3.31 and a beta of 0.83. 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 one year low of $35.80 and a one year high of $46.03.

NNN REIT Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Stephen A. Horn, Jr. sold 33,192 shares of the 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 directly owned 822,711 shares in the company, valued at approximately $37,005,540.78. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Adamo sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $44.99, for a total value of $269,940.00. Following the completion of the sale, the executive vice president directly owned 126,358 shares in the company, valued at approximately $5,684,846.42. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On NNN REIT

Hedge funds have recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC acquired a new position in NNN REIT during the third quarter worth approximately $879,000. SG Americas Securities LLC boosted its holdings in shares of 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 valued at $3,082,000 after purchasing an additional 62,299 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of NNN REIT by 4.4% in the 3rd quarter. Sound Income Strategies LLC now owns 434,193 shares of the real estate investment trust’s stock valued at $18,219,000 after purchasing an additional 18,135 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of NNN REIT by 25.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 67,100 shares of the real estate investment trust’s stock valued at $2,856,000 after buying an additional 13,800 shares during the period. Finally, Rothschild Investment LLC increased its holdings in shares of NNN REIT by 1,066.9% during the 3rd quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 3,905 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.