NNN REIT (NYSE:NNN) Reaches New 1-Year High – Here’s Why

NNN REIT, Inc. (NYSE:NNN) shares reached a new 52-week high during trading on Friday . The stock traded as high as $45.65 and last traded at $45.57, with a volume of 647830 shares changing hands. The stock had previously closed at $44.98.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group lowered their target price on NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of NNN REIT in a research note on Thursday, January 22nd. B. Riley Financial reiterated a “neutral” rating and issued a $43.00 price objective (down from $44.00) on shares of NNN REIT in a research report on Friday, November 14th. BNP Paribas Exane boosted their price objective 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, Stifel Nicolaus set a $48.50 price objective on shares of NNN REIT in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $44.61.

NNN REIT Price Performance

The stock has a fifty day moving average of $42.06 and a two-hundred day moving average of $41.76. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 3.33 and a beta of 0.86. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

NNN REIT Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.3%. NNN REIT’s dividend payout ratio is 115.94%.

Institutional Trading of NNN REIT

A number of institutional investors have recently added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of NNN REIT in the 3rd quarter worth approximately $879,000. SG Americas Securities LLC raised its holdings in NNN REIT by 616.2% during the third quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock worth $3,082,000 after purchasing an additional 62,299 shares during the last quarter. Sound Income Strategies LLC boosted its position in 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 worth $18,219,000 after purchasing an additional 18,135 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in NNN REIT in the third quarter valued at $221,000. Finally, Strengthening Families & Communities LLC grew its holdings in NNN REIT by 279.4% in the third quarter. Strengthening Families & Communities LLC now owns 7,285 shares of the real estate investment trust’s stock valued at $322,000 after purchasing an additional 5,365 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.