NNN REIT (NYSE:NNN) Hits New 1-Year High – What’s Next?

Shares of NNN REIT, Inc. (NYSE:NNN) reached a new 52-week high on Wednesday . The stock traded as high as $45.47 and last traded at $44.79, with a volume of 1782012 shares. The stock had previously closed at $44.34.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NNN shares. B. Riley Financial reiterated a “neutral” rating and issued a $43.00 price objective (down from $44.00) on shares of NNN REIT in a report on Friday, November 14th. UBS Group dropped their target price on shares of NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Robert W. Baird set a $46.00 price target on NNN REIT in a report on Thursday, February 12th. Stifel Nicolaus set a $48.50 price objective on NNN REIT in a report on Wednesday, February 11th. Finally, Wells Fargo & Company increased their target price on NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $44.61.

NNN REIT Trading Up 1.0%

The stock has a 50-day moving average price of $41.37 and a two-hundred day moving average price of $41.61. The stock has a market capitalization of $8.51 billion, a PE ratio of 21.64, a PEG ratio of 3.16 and a beta of 0.86. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.4%. NNN REIT’s dividend payout ratio is 115.94%.

Institutional Trading of NNN REIT

Several institutional investors have recently made changes to their positions in NNN. Sound Income Strategies LLC grew its holdings in NNN REIT by 8.0% during the 4th quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock valued at $20,000,000 after buying an additional 34,852 shares in the last quarter. Captrust Financial Advisors increased its position in shares of NNN REIT by 17.3% during the 3rd quarter. Captrust Financial Advisors now owns 135,241 shares of the real estate investment trust’s stock valued at $5,757,000 after purchasing an additional 19,976 shares during the last quarter. Amalgamated Bank raised its holdings in NNN REIT by 0.4% during the 3rd quarter. Amalgamated Bank now owns 86,483 shares of the real estate investment trust’s stock valued at $3,682,000 after buying an additional 311 shares during the period. Horizon Investments LLC raised its stake in shares of NNN REIT by 65.0% in the third quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust’s stock valued at $3,230,000 after acquiring an additional 30,333 shares during the period. Finally, SG Americas Securities LLC lifted its stake in NNN REIT by 616.2% in 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 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.