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

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

NNN has been the topic of several research analyst reports. Evercore reduced their price objective on NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. BNP Paribas Exane raised their price objective on NNN REIT from $43.00 to $44.00 and gave the company a “strong sell” rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft raised NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday, January 20th. Stifel Nicolaus set a $48.50 price objective on NNN REIT in a research note on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NNN REIT in a research note on Thursday, January 22nd.

Insider Activity

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 value of $269,940.00. Following the sale, the executive vice president directly owned 126,358 shares of the company’s stock, 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 filing with the SEC, which is available through this link. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were 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 directly owned 822,711 shares in the company, valued at $37,005,540.78. This trade represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC boosted its stake in shares of NNN REIT by 180.0% during the fourth quarter. Virtu Financial LLC now owns 15,714 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 10,101 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of NNN REIT during the fourth quarter valued at about $1,300,000. Parallel Advisors LLC boosted its stake in shares of NNN REIT by 17.5% during the fourth quarter. Parallel Advisors LLC now owns 6,710 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 997 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of NNN REIT by 102.2% during the fourth 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 in the last quarter. Finally, Allstate Corp boosted its stake in shares of NNN REIT by 25.4% during the fourth 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. 89.96% of the stock is owned by institutional investors and hedge funds.

NNN REIT Stock Performance

NNN opened at $43.59 on Thursday. The firm has a market cap of $8.29 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 5.61 and a beta of 0.85. NNN REIT has a 52-week low of $35.80 and a 52-week high of $46.03. 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 business’s fifty day moving average is $43.66 and its 200-day moving average is $42.04.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.40 annualized dividend and a yield of 5.5%. NNN REIT’s dividend payout ratio (DPR) is 115.94%.

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.