Short Interest in NNN REIT, Inc. (NYSE:NNN) Grows By 20.2%

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

NNN REIT Stock Performance

NNN stock traded down $0.17 during midday trading on Tuesday, reaching $45.06. 1,088,050 shares of the company were exchanged, compared to its average volume of 1,374,241. NNN REIT has a one year low of $35.80 and a one year high of $46.03. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 3.32 and a beta of 0.83. The business has a 50-day moving average price of $43.40 and a two-hundred day moving average price of $42.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.40 annualized dividend and a dividend yield of 5.3%. NNN REIT’s payout ratio is 115.94%.

Analyst Ratings Changes

Several research firms recently weighed in on NNN. UBS Group increased their target price on shares of NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, March 9th. Wells Fargo & Company lifted their price target on NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NNN REIT in a report on Thursday, January 22nd. Evercore lowered their target price on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of NNN REIT in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $44.83.

Insider Transactions at NNN REIT

In other news, CEO Stephen A. Horn, Jr. sold 33,192 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $44.98, for a total value of $1,492,976.16. Following the completion of the sale, the chief executive officer owned 822,711 shares of the company’s stock, valued at $37,005,540.78. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Adamo sold 6,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 126,358 shares in the company, valued at approximately $5,684,846.42. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.90% of the company’s stock.

Institutional Trading of NNN REIT

Hedge funds have recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC bought a new stake in NNN REIT during the 3rd quarter worth approximately $879,000. SG Americas Securities LLC grew its position in shares of NNN REIT by 616.2% during 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 purchasing an additional 62,299 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of 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 valued at $18,219,000 after purchasing an additional 18,135 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of NNN REIT by 25.9% in the third quarter. Handelsbanken Fonder AB now owns 67,100 shares of the real estate investment trust’s stock worth $2,856,000 after purchasing an additional 13,800 shares during the period. Finally, Syon Capital LLC raised its position in shares of NNN REIT by 113.1% in the third quarter. Syon Capital LLC now owns 18,598 shares of the real estate investment trust’s stock worth $792,000 after buying an additional 9,871 shares in 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.