NNN REIT’s (NNN) Market Perform Rating Reiterated at Raymond James Financial

Raymond James Financial reaffirmed their market perform rating on shares of NNN REIT (NYSE:NNN) in a report published on Tuesday, MarketBeat.com reports.

NNN has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upgraded 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. Robert W. Baird set a $46.00 price objective on NNN REIT in a research report on Thursday, February 12th. UBS Group lifted their target price on shares of NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, March 9th. BNP Paribas Exane boosted their target price 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NNN REIT in a report on Thursday, January 22nd. 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 company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $44.83.

NNN REIT Stock Performance

NYSE NNN opened at $44.19 on Tuesday. The firm has a market capitalization of $8.39 billion, a P/E ratio of 21.35, a PEG ratio of 7.01 and a beta of 0.83. The stock has a 50-day simple moving average of $43.54 and a two-hundred day simple moving average of $42.07. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. NNN REIT has a fifty-two week low of $35.80 and a fifty-two week high of $46.03.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $0.60 per share. The ex-dividend date was Friday, January 30th. This represents a $2.40 dividend on an annualized basis and a yield of 5.4%. NNN REIT’s dividend payout ratio is currently 115.94%.

Insider Activity at NNN REIT

In other news, CEO Stephen A. Horn, Jr. sold 33,192 shares of the company’s stock in a transaction that occurred on 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 directly owned 822,711 shares of the company’s stock, valued at $37,005,540.78. This represents a 3.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jonathan Adamo sold 6,000 shares of the 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 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 position. The disclosure for this sale is available in the SEC filing. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NNN REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC purchased a new position in NNN REIT during the third quarter valued at $879,000. SG Americas Securities LLC increased its stake in shares of NNN REIT by 616.2% during 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 4.4% during the third 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. Handelsbanken Fonder AB raised its position in shares of NNN REIT by 25.9% during the 3rd 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 last quarter. Finally, Adams Asset Advisors LLC raised its position in shares of NNN REIT by 5.8% during the 3rd quarter. Adams Asset Advisors LLC now owns 43,112 shares of the real estate investment trust’s stock worth $1,835,000 after purchasing an additional 2,346 shares during the last quarter. 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.