NNN REIT, Inc. (NYSE:NNN - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $38.06, but opened at $39.14. NNN REIT shares last traded at $39.67, with a volume of 443,107 shares trading hands.
Wall Street Analyst Weigh In
NNN has been the topic of several research reports. Barclays lowered their price target on NNN REIT from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. StockNews.com cut NNN REIT from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Morgan Stanley raised NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 target price for the company in a research report on Wednesday, January 15th. UBS Group lowered their price target on shares of NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Finally, Robert W. Baird raised their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $45.19.
Check Out Our Latest Report on NNN REIT
NNN REIT Stock Performance
The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The stock's 50-day simple moving average is $40.18 and its 200 day simple moving average is $44.09.
NNN REIT Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Friday, January 31st. NNN REIT's payout ratio is currently 107.41%.
Insider Activity at NNN REIT
In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the sale, the executive vice president now owns 68,756 shares of the company's stock, valued at $2,922,817.56. This represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company's stock.
Hedge Funds Weigh In On NNN REIT
A number of large investors have recently modified their holdings of NNN. Farther Finance Advisors LLC raised its position in NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust's stock worth $110,000 after purchasing an additional 280 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 305 shares during the period. Steph & Co. raised its position in shares of NNN REIT by 8.2% during the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust's stock worth $231,000 after acquiring an additional 429 shares during the last quarter. DGS Capital Management LLC lifted its stake in shares of NNN REIT by 9.5% during the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust's stock valued at $218,000 after acquiring an additional 461 shares during the period. Finally, Millstone Evans Group LLC acquired a new position in shares of NNN REIT during the fourth quarter valued at $42,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.
About NNN REIT
(
Get Free Report)
NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years.
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