Analysts Set NNN REIT, Inc. (NYSE:NNN) Target Price at $44.83

NNN REIT, Inc. (NYSE:NNN) has earned a consensus rating of “Reduce” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $44.8333.

NNN has been the subject of a number of research analyst reports. Robert W. Baird set a $46.00 price objective on shares of NNN REIT in a report on Thursday, February 12th. Evercore decreased 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 report on Monday, December 15th. BNP Paribas Exane raised their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a report on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of NNN REIT in a report on Thursday, January 22nd. Finally, Raymond James Financial restated a “market perform” rating on shares of NNN REIT in a report on Tuesday, March 17th.

NNN REIT Stock Performance

NYSE NNN opened at $42.47 on Thursday. NNN REIT has a 52-week low of $35.80 and a 52-week high of $46.03. The company has a 50-day simple moving average of $43.59 and a 200 day simple moving average of $42.02. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $8.08 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 5.61 and a beta of 0.85.

NNN REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.60 dividend. The ex-dividend date was Friday, January 30th. This represents a $2.40 annualized dividend and a dividend yield of 5.7%. NNN REIT’s dividend payout ratio (DPR) is presently 115.94%.

Insider Activity

In other news, EVP Jonathan Adamo sold 6,000 shares of NNN REIT stock in a transaction dated 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 owned 126,358 shares in the company, valued at $5,684,846.42. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of NNN REIT stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 822,711 shares of the company’s stock, valued at $37,005,540.78. The trade was a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On NNN REIT

Several large investors have recently modified their holdings of NNN. SG Americas Securities LLC increased its stake in shares of NNN REIT by 616.2% in 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 in the last quarter. Sound Income Strategies LLC increased its stake in shares of NNN REIT by 8.0% in the fourth quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock worth $20,000,000 after purchasing an additional 34,852 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of NNN REIT in the fourth quarter worth about $1,300,000. Horizon Investments LLC grew its stake in NNN REIT by 65.0% during the third quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust’s stock valued at $3,230,000 after acquiring an additional 30,333 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC purchased a new position in NNN REIT during the third quarter valued at approximately $879,000. 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.