NNN REIT, Inc. (NYSE:NNN) EVP Sells $187,520.00 in Stock

NNN REIT, Inc. (NYSE:NNN) EVP Michelle Lynn Miller sold 4,000 shares of NNN REIT stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the sale, the executive vice president now directly owns 69,756 shares in the company, valued at approximately $3,270,161.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NNN REIT Trading Up 0.2 %

NYSE:NNN traded up $0.11 during trading hours on Friday, reaching $46.18. 1,125,310 shares of the stock were exchanged, compared to its average volume of 1,222,631. NNN REIT, Inc. has a twelve month low of $34.38 and a twelve month high of $47.19. The business has a 50-day moving average of $43.76 and a two-hundred day moving average of $42.17. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 3.63 and a beta of 1.07. The company has a quick ratio of 0.52, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

NNN REIT (NYSE:NNN) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.24). The business had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. On average, equities analysts predict that NNN REIT, Inc. will post 3.29 EPS for the current year.

NNN REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Wednesday, July 31st. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. NNN REIT’s dividend payout ratio is currently 106.42%.

Wall Street Analyst Weigh In

NNN has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on NNN REIT from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. BNP Paribas upgraded NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price objective on the stock in a report on Thursday, May 2nd. 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 report on Thursday, July 18th. B. Riley upped their price target on NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their price objective on NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.00.

Institutional Investors Weigh In On NNN REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nicholas Hoffman & Company LLC. lifted 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 buying an additional 240 shares during the period. Raymond James Trust N.A. boosted its position in NNN REIT by 19.6% in the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 2,120 shares during the last quarter. LRI Investments LLC boosted its holdings in 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 purchasing an additional 809 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of NNN REIT by 451.3% during the second quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock worth $11,285,000 after buying an additional 216,855 shares in the last quarter. Finally, Bruce G. Allen Investments LLC increased its position in shares of NNN REIT by 1,276.8% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,047 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.