Insider Selling: NNN REIT (NYSE:NNN) CEO Sells $1,492,976.16 in Stock

NNN REIT, Inc. (NYSE:NNN) CEO Stephen Horn, Jr. sold 33,192 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

NNN REIT Trading Down 0.5%

NNN opened at $45.09 on Thursday. The firm’s fifty day moving average is $42.99 and its two-hundred day moving average is $41.96. The firm has a market cap of $8.56 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 3.33 and a beta of 0.83. NNN REIT, Inc. has a twelve month low of $35.80 and a twelve month high of $46.03. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders 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 payout ratio is presently 115.94%.

Analysts Set New Price Targets

NNN has been the topic of a number of research analyst reports. Evercore dropped their price target on NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Deutsche Bank Aktiengesellschaft raised NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Tuesday, January 20th. BNP Paribas Exane raised their target price 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. Wells Fargo & Company lifted their price target 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. Finally, UBS Group upped their price target on shares of NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NNN REIT presently has a consensus rating of “Reduce” and an average target price of $44.83.

Institutional Trading of NNN REIT

Institutional investors have recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC bought a new position in shares of NNN REIT during the third quarter worth about $879,000. SG Americas Securities LLC lifted its stake 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 valued at $3,082,000 after acquiring an additional 62,299 shares in the last quarter. Sound Income Strategies LLC boosted its position 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 acquiring an additional 18,135 shares during the last quarter. Handelsbanken Fonder AB boosted its position in 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 worth $2,856,000 after acquiring an additional 13,800 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of NNN REIT by 24.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,882 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 1,342 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.