NNN REIT, Inc. (NYSE:NNN) Receives Average Recommendation of “Reduce” from Brokerages

NNN REIT, Inc. (NYSE:NNN) has earned an average rating of “Reduce” from the nine research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $44.8333.

A number of research firms have commented on NNN. Deutsche Bank Aktiengesellschaft raised NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Tuesday, January 20th. Robert W. Baird set a $46.00 price objective on NNN REIT in a research report on Thursday, February 12th. Raymond James Financial reissued a “market perform” rating on shares of NNN REIT in a research note on Tuesday, March 17th. Stifel Nicolaus set a $48.50 target price on NNN REIT in a report on Wednesday, February 11th. Finally, UBS Group raised their price target on NNN REIT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th.

NNN REIT Stock Performance

Shares of NYSE:NNN opened at $42.46 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $43.56 and a 200-day moving average price of $42.02. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 6.63 and a beta of 0.85. NNN REIT has a 12 month low of $35.80 and a 12 month high of $46.03.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $0.60 dividend. The ex-dividend date was Friday, January 30th. This represents a $2.40 annualized dividend and a yield of 5.7%. NNN REIT’s dividend payout ratio is 115.94%.

Insider Activity

In other news, CEO Stephen A. Horn, Jr. sold 33,192 shares of NNN REIT stock in a transaction dated 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 sale, the chief executive officer owned 822,711 shares of the company’s stock, valued at approximately $37,005,540.78. The trade was a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Adamo sold 6,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $44.99, for a total transaction of $269,940.00. Following the transaction, the executive vice president owned 126,358 shares in the company, valued at $5,684,846.42. This represents a 4.53% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of NNN REIT by 0.4% in the 3rd quarter. Amalgamated Bank now owns 86,483 shares of the real estate investment trust’s stock worth $3,682,000 after acquiring an additional 311 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of NNN REIT by 11.0% during the third quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 567 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of NNN REIT by 1.0% during the fourth quarter. Handelsbanken Fonder AB now owns 67,800 shares of the real estate investment trust’s stock valued at $2,687,000 after purchasing an additional 700 shares in the last quarter. Fiduciary Alliance LLC grew its stake in NNN REIT by 21.0% in the third quarter. Fiduciary Alliance LLC now owns 5,699 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 991 shares during the period. Finally, Quent Capital LLC purchased a new stake in NNN REIT in the third quarter worth $51,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.