NNN REIT’s (NNN) “Market Perform” Rating Reaffirmed at Raymond James Financial

Raymond James Financial restated their market perform rating on shares of NNN REIT (NYSE:NNN) in a research note issued to investors on Tuesday, Marketbeat.com reports.

NNN has been the subject of several other reports. Evercore lowered 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 note on Monday, December 15th. Robert W. Baird set a $46.00 target price on NNN REIT in a research note on Thursday, February 12th. UBS Group boosted their price target on NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, March 9th. Deutsche Bank Aktiengesellschaft upgraded NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NNN REIT in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, NNN REIT presently has a consensus rating of “Reduce” and a consensus price target of $44.83.

NNN REIT Trading Down 0.4%

Shares of NNN opened at $45.06 on Tuesday. The stock has a market capitalization of $8.56 billion, a P/E ratio of 21.77, a PEG ratio of 3.32 and a beta of 0.83. 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 firm has a fifty day simple moving average of $43.40 and a two-hundred day simple moving average of $42.04. NNN REIT has a twelve month low of $35.80 and a twelve month high of $46.03.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given 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 (DPR) is 115.94%.

Insider Activity at NNN REIT

In other NNN REIT news, CEO Stephen A. Horn, Jr. sold 33,192 shares of the firm’s stock in a transaction on 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 $37,005,540.78. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan Adamo sold 6,000 shares of NNN REIT stock in a transaction on Friday, March 6th. The shares were 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 of the company’s stock, valued at approximately $5,684,846.42. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On NNN REIT

Several institutional investors have recently made changes to their positions in NNN. Virtu Financial LLC raised its holdings in shares of NNN REIT by 180.0% in the fourth quarter. Virtu Financial LLC now owns 15,714 shares of the real estate investment trust’s stock valued at $623,000 after acquiring an additional 10,101 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in NNN REIT in the fourth quarter worth about $1,300,000. Parallel Advisors LLC grew its holdings in NNN REIT by 17.5% during the 4th quarter. Parallel Advisors LLC now owns 6,710 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 997 shares in the last quarter. Rothschild Investment LLC increased its position in NNN REIT by 102.2% during the 4th quarter. Rothschild Investment LLC now owns 8,636 shares of the real estate investment trust’s stock valued at $342,000 after purchasing an additional 4,365 shares during the period. Finally, Allstate Corp raised its holdings in shares of NNN REIT by 25.4% in the 4th quarter. Allstate Corp now owns 7,756 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 1,569 shares in 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.