NNN REIT (NYSE:NNN) Sets New 52-Week High on Analyst Upgrade

NNN REIT, Inc. (NYSE:NNN)’s share price hit a new 52-week high during mid-day trading on Thursday after BNP Paribas Exane raised their price target on the stock from $43.00 to $44.00. BNP Paribas Exane currently has a strong sell rating on the stock. NNN REIT traded as high as $44.29 and last traded at $44.2350, with a volume of 1585955 shares traded. The stock had previously closed at $43.08.

Several other equities research analysts also recently issued reports on NNN. Barclays lowered their price objective on shares of NNN REIT from $44.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. UBS Group decreased their price target on shares of NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Evercore dropped 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. Wells Fargo & Company increased their target price on shares of NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Finally, Stifel Nicolaus set a $48.50 target price on NNN REIT in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, NNN REIT has an average rating of “Reduce” and an average target price of $44.61.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new position in shares of NNN REIT in the 3rd quarter worth approximately $51,000. Ameriflex Group Inc. grew its position 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 during the period. Rothschild Investment LLC raised its stake in NNN REIT by 1,066.9% during the third quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 3,905 shares in the last quarter. Bayforest Capital Ltd lifted its holdings in shares of NNN REIT by 705.2% during the third quarter. Bayforest Capital Ltd now owns 4,525 shares of the real estate investment trust’s stock valued at $193,000 after acquiring an additional 3,963 shares during the period. Finally, Hanson & Doremus Investment Management bought a new position in shares of NNN REIT during the fourth quarter valued at $187,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Price Performance

The company’s 50 day moving average price is $41.16 and its 200 day moving average price is $41.58. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.44 and a current ratio of 1.09. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 3.11 and a beta of 0.86.

NNN REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.40 annualized dividend and a dividend yield of 5.4%. NNN REIT’s dividend payout ratio (DPR) is presently 115.38%.

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.