NNN REIT (NYSE:NNN) Sets New 1-Year High at $48.77

NNN REIT, Inc. (NYSE:NNN)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $48.77 and last traded at $48.77, with a volume of 149 shares. The stock had previously closed at $48.17.

Wall Street Analyst Weigh In

NNN has been the subject of a number of recent research reports. StockNews.com upgraded NNN REIT from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. UBS Group upped their target price on NNN REIT from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. B. Riley lifted their price target on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company reduced their price objective on shares of NNN REIT from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Finally, Royal Bank of Canada raised their target price on shares of NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, NNN REIT currently has a consensus rating of “Hold” and a consensus target price of $45.50.

NNN REIT Stock Down 0.0 %

The firm has a 50-day moving average of $45.78 and a two-hundred day moving average of $43.13. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 3.84 and a beta of 1.09. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

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 during the quarter, compared to analyst estimates of $212.30 million. NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. NNN REIT’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, sell-side analysts anticipate that NNN REIT, Inc. will post 3.3 earnings per share for the current year.

NNN REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.58 per share. The ex-dividend date was Wednesday, July 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.77%. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. NNN REIT’s dividend payout ratio (DPR) is 106.42%.

Insider Activity

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the transaction, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at approximately $3,270,161.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of NNN REIT

A number of institutional investors have recently added to or reduced their stakes in the business. Nicholas Hoffman & Company LLC. increased its stake in shares of NNN REIT by 1.8% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock worth $568,000 after purchasing an additional 240 shares during the last quarter. LRI Investments LLC acquired a new position in NNN REIT during the first quarter worth $34,000. First United Bank & Trust bought a new position in NNN REIT during the fourth quarter valued at about $39,000. Riverview Trust Co bought a new position in NNN REIT during the first quarter valued at about $43,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of NNN REIT by 1,276.8% in the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.