NNN REIT, Inc. (NYSE:NNN) Receives Average Recommendation of “Reduce” from Brokerages

NNN REIT, Inc. (NYSE:NNN) has been assigned an average recommendation of “Reduce” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $44.8333.

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Tuesday, January 20th. BNP Paribas Exane upped their price target on NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a research note on Thursday, February 12th. UBS Group raised their price objective on NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, March 9th. Raymond James Financial reiterated a “market perform” rating on shares of NNN REIT in a research note on Tuesday, March 17th. Finally, Evercore dropped their target price on NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a report on Monday, December 15th.

NNN REIT Trading Up 1.0%

Shares of NYSE NNN opened at $42.46 on Thursday. NNN REIT has a 1 year low of $35.80 and a 1 year high of $46.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50-day moving average of $43.56 and a 200 day moving average of $42.02. The stock has a market cap of $8.08 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 6.63 and a beta of 0.85.

NNN REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, January 30th. NNN REIT’s payout ratio is currently 115.94%.

Insider Transactions at NNN REIT

In related news, CEO Stephen A. Horn, Jr. sold 33,192 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the sale, the chief executive officer directly owned 822,711 shares of the company’s stock, valued at approximately $37,005,540.78. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Adamo sold 6,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $44.99, for a total transaction of $269,940.00. Following the sale, the executive vice president directly owned 126,358 shares in the company, valued at $5,684,846.42. This trade represents a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Institutional investors have recently made changes to their positions in the company. Quent Capital LLC bought a new stake in shares of NNN REIT during the third quarter valued at approximately $51,000. Ameriflex Group Inc. raised its holdings in NNN REIT by 1,266.1% in the 3rd quarter. Ameriflex Group Inc. now owns 2,336 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 2,165 shares during the last quarter. Rothschild Investment LLC lifted its position in NNN REIT by 1,066.9% in the 3rd quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust’s stock valued at $182,000 after acquiring an additional 3,905 shares in the last quarter. Bayforest Capital Ltd lifted its position in NNN REIT by 705.2% in the 3rd 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 in the last quarter. Finally, Hanson & Doremus Investment Management purchased a new stake in NNN REIT during the 4th quarter valued at $187,000. Hedge funds and other institutional investors 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.