NNN REIT (NYSE:NNN) Reaches New 1-Year High at $49.99

NNN REIT, Inc. (NYSE:NNN)’s stock price hit a new 52-week high on Monday . The company traded as high as $49.99 and last traded at $49.99, with a volume of 352 shares traded. The stock had previously closed at $48.75.

Analyst Upgrades and Downgrades

NNN has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Wells Fargo & Company decreased their target price on shares of NNN REIT from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Raymond James raised their price target on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. UBS Group increased their price objective on NNN REIT from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, StockNews.com upgraded NNN REIT from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.50.

NNN REIT Stock Up 2.5 %

The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $9.17 billion, a PE ratio of 22.36, a P/E/G ratio of 3.86 and a beta of 1.09. The stock’s fifty day moving average is $46.16 and its two-hundred day moving average is $43.29.

NNN REIT (NYSE:NNN) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). The business had revenue of $216.81 million for the quarter, compared to the consensus estimate of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. NNN REIT’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. As a group, analysts predict that NNN REIT, Inc. will post 3.3 EPS for the current year.

NNN REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from NNN REIT’s previous quarterly dividend of $0.57. NNN REIT’s dividend payout ratio (DPR) is 106.42%.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the transaction, the executive vice president now owns 69,756 shares of the company’s stock, valued at approximately $3,270,161.28. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On NNN REIT

Large investors have recently bought and sold shares of the stock. Pathway Financial Advisers LLC increased its stake in shares of NNN REIT by 32.9% in the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 1,414 shares during the period. Amalgamated Bank increased its position in shares of NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after acquiring an additional 4,088 shares during the period. Nicholas Hoffman & Company LLC. raised its stake in shares of NNN REIT by 1.8% during the second quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock valued at $568,000 after acquiring an additional 240 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of NNN REIT by 19.6% during the second quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock valued at $550,000 after acquiring an additional 2,120 shares during the last quarter. Finally, LRI Investments LLC boosted its holdings in shares of NNN REIT by 100.6% during the second quarter. LRI Investments LLC now owns 1,613 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 809 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

About NNN REIT

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.