NNN REIT (NYSE:NNN) Reaches New 52-Week High – Should You Buy?

NNN REIT, Inc. (NYSE:NNN)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.47 and last traded at $44.79, with a volume of 1782012 shares changing hands. The stock had previously closed at $44.34.

Analysts Set New Price Targets

Several brokerages have weighed in on NNN. Weiss Ratings reiterated a “hold (c)” rating on shares of NNN REIT in a report on Thursday, January 22nd. Stifel Nicolaus set a $48.50 target price on shares of NNN REIT in a report on Wednesday, February 11th. B. Riley Financial reissued a “neutral” rating and set a $43.00 target price (down previously from $44.00) on shares of NNN REIT in a research report on Friday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of 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. Finally, Evercore cut their price objective on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $44.61.

NNN REIT Trading Up 1.0%

The firm has a market capitalization of $8.51 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 3.16 and a beta of 0.86. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company’s 50-day simple moving average is $41.37 and its 200 day simple moving average is $41.61.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.4%. The ex-dividend date was Friday, January 30th. NNN REIT’s dividend payout ratio (DPR) is 115.94%.

Institutional Trading of NNN REIT

A number of institutional investors have recently made changes to their positions in NNN. Knights of Columbus Asset Advisors LLC acquired a new stake in NNN REIT in the third quarter worth about $879,000. SG Americas Securities LLC raised its position in shares of NNN REIT by 616.2% in 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 during the last quarter. Sound Income Strategies LLC boosted its stake in NNN REIT by 4.4% in the 3rd quarter. Sound Income Strategies LLC now owns 434,193 shares of the real estate investment trust’s stock worth $18,219,000 after purchasing an additional 18,135 shares in the last quarter. Strengthening Families & Communities LLC boosted its stake in NNN REIT by 279.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 7,285 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 5,365 shares in the last quarter. Finally, Transcend Capital Advisors LLC purchased a new stake in NNN REIT during the 3rd quarter worth approximately $221,000. Institutional investors and hedge funds 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.