NNN REIT, Inc. (NYSE:NNN) Short Interest Update

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. Currently, 3.9% of the company’s shares are sold short. Based on an average trading volume of 1,415,601 shares, the days-to-cover ratio is presently 5.2 days. 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 company’s shares are sold short.

NNN REIT Stock Performance

Shares of NNN stock opened at $45.06 on Wednesday. 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 has a 52 week low of $35.80 and a 52 week high of $46.03. The stock has a market capitalization of $8.56 billion, a PE ratio of 21.77, a P/E/G ratio of 3.32 and a beta of 0.82. The firm has a 50 day moving average of $43.40 and a two-hundred day moving average of $42.04.

NNN REIT Dividend Announcement

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

Wall Street Analyst Weigh In

NNN has been the topic of a number of research analyst reports. BNP Paribas Exane boosted their price target 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. 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 report on Monday, December 15th. Deutsche Bank Aktiengesellschaft upgraded shares of NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, January 20th. Stifel Nicolaus set a $48.50 price target on NNN REIT in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company raised their price target on NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $44.83.

Insiders Place Their Bets

In related news, EVP Jonathan Adamo sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $44.99, for a total transaction of $269,940.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the business’s 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 completion of the sale, the chief executive officer owned 822,711 shares in the company, valued at approximately $37,005,540.78. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On NNN REIT

Several large investors have recently bought and sold shares of NNN. Quent Capital LLC purchased a new position in shares of NNN REIT in the 3rd quarter valued at about $51,000. Ameriflex Group Inc. raised its holdings in NNN REIT by 1,266.1% in the third quarter. Ameriflex Group Inc. now owns 2,336 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 2,165 shares in the last quarter. Rothschild Investment LLC raised its holdings in NNN REIT by 1,066.9% in the third quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust’s stock valued at $182,000 after acquiring an additional 3,905 shares in the last quarter. Hanson & Doremus Investment Management purchased a new position in NNN REIT in the fourth quarter worth approximately $187,000. Finally, Bayforest Capital Ltd grew its holdings in NNN REIT by 705.2% during the 3rd quarter. Bayforest Capital Ltd now owns 4,525 shares of the real estate investment trust’s stock worth $193,000 after acquiring an additional 3,963 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.