NNN REIT, Inc. (NYSE:NNN) Short Interest Update

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, March 9th. Wells Fargo & Company raised 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. Deutsche Bank Aktiengesellschaft raised NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of NNN REIT in a research report on Thursday, January 22nd. Finally, Evercore decreased their price objective on 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 equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $44.83.

NNN REIT Price Performance

Shares of NYSE NNN traded down $0.17 during trading on Tuesday, reaching $45.06. The company had a trading volume of 1,088,050 shares, compared to its average volume of 1,374,241. NNN REIT has a 52 week low of $35.80 and a 52 week high of $46.03. The business’s 50 day moving average price is $43.40 and its 200-day moving average price is $42.04. The stock has a market cap of $8.56 billion, a PE ratio of 21.77, a PEG ratio of 3.32 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 Dividend Announcement

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

Insider Buying and Selling

In other NNN REIT news, EVP Jonathan Adamo sold 6,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $44.99, for a total value of $269,940.00. Following the sale, the executive vice president directly owned 126,358 shares in the company, valued at approximately $5,684,846.42. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the business’s stock in a transaction 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 transaction, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently made changes to their positions in NNN. EverSource Wealth Advisors LLC boosted its holdings in NNN REIT by 266.9% in the second 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 during the last quarter. Captrust Financial Advisors raised its holdings in NNN REIT by 3.5% during the 2nd quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust’s stock worth $4,977,000 after purchasing an additional 3,897 shares during the last quarter. Fiduciary Alliance LLC lifted its position 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 valued at $243,000 after purchasing an additional 991 shares during the period. Adams Asset Advisors LLC boosted its stake in shares of NNN REIT by 5.8% in the 3rd quarter. Adams Asset Advisors LLC now owns 43,112 shares of the real estate investment trust’s stock valued at $1,835,000 after purchasing an additional 2,346 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake 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. 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.