NNN REIT, Inc. (NYSE:NNN – Get Free Report) 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 – Get Free Report) 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
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.
Get Our Latest Analysis on NNN REIT
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.
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