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 business’s 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 directly owns 68,756 shares of the company’s stock, valued at approximately $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 is available at the SEC website.

NNN REIT Price Performance

NNN REIT stock traded down $0.31 during trading hours on Tuesday, hitting $42.40. 1,016,370 shares of the company traded hands, compared to its average volume of 1,172,650. The firm’s 50-day simple moving average is $45.20 and its two-hundred day simple moving average is $45.06. The firm has a market cap of $7.95 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.16 and a beta of 1.10. NNN REIT, Inc. has a 1-year low of $38.88 and a 1-year high of $49.57. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.58 dividend. The ex-dividend date 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 107.41%.

Hedge Funds Weigh In On NNN REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NNN. LRI Investments LLC lifted 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 valued at $69,000 after buying an additional 809 shares during the period. Farther Finance Advisors LLC lifted its holdings 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 valued at $110,000 after acquiring an additional 280 shares during the last quarter. GAMMA Investing LLC lifted its holdings in NNN REIT by 23.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 553 shares during the last quarter. DGS Capital Management LLC bought a new position in shares of NNN REIT during the 3rd quarter valued at about $236,000. Finally, Pathway Financial Advisers LLC grew its stake in shares of NNN REIT by 32.9% in 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 last quarter. 89.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NNN shares. Colliers Securities cut NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. UBS Group cut their target price on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Royal Bank of Canada lowered their price target on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Robert W. Baird upped their target price on shares of NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.93.

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.