NNN REIT, Inc. (NYSE:NNN) EVP Michelle Lynn Miller Sells 1,000 Shares

NNN REIT, Inc. (NYSE:NNN) EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the transaction, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NNN REIT Trading Down 0.7 %

Shares of NNN stock opened at $42.40 on Wednesday. NNN REIT, Inc. has a 1 year low of $38.88 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. The stock’s 50 day simple moving average is $45.07 and its two-hundred day simple moving average is $45.07. The company has a market cap of $7.95 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.47%. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Analyst Upgrades and Downgrades

NNN has been the subject of a number of recent analyst reports. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada dropped their price objective on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Raymond James upped their price objective on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. StockNews.com lowered NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.93.

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently modified their holdings of NNN. LRI Investments LLC raised its holdings in shares of NNN REIT by 100.6% in the second quarter. LRI Investments LLC now owns 1,613 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 809 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 280 shares during the period. GAMMA Investing LLC increased its holdings in NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 553 shares during the period. DGS Capital Management LLC purchased a new position in NNN REIT during the 3rd quarter worth $236,000. Finally, Pathway Financial Advisers LLC increased its holdings in NNN REIT by 32.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 1,414 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

NNN REIT Company Profile

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.