NNN REIT (NYSE:NNN) CEO Stephen Horn, Jr. Sells 33,192 Shares

NNN REIT, Inc. (NYSE:NNN) CEO Stephen Horn, Jr. sold 33,192 shares of NNN REIT stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the completion of the transaction, the chief executive officer directly owned 822,711 shares in the company, valued at approximately $37,005,540.78. The trade was a 3.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NNN REIT Stock Up 0.7%

Shares of NNN REIT stock traded up $0.31 on Monday, hitting $45.43. The company had a trading volume of 1,145,806 shares, compared to its average volume of 1,505,802. The stock has a 50-day moving average of $42.65 and a 200-day moving average of $41.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. NNN REIT, Inc. has a twelve month low of $35.80 and a twelve month high of $46.03. The firm has a market capitalization of $8.63 billion, a P/E ratio of 21.95, a P/E/G ratio of 3.31 and a beta of 0.83.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.40 dividend on an annualized basis and a yield of 5.3%. NNN REIT’s dividend payout ratio is presently 115.94%.

Hedge Funds Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently made changes to their positions in NNN. Amalgamated Bank increased its holdings in NNN REIT by 0.4% during the third quarter. Amalgamated Bank now owns 86,483 shares of the real estate investment trust’s stock worth $3,682,000 after buying an additional 311 shares during the last quarter. Parallel Advisors LLC raised its position in NNN REIT by 11.0% during the third quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 567 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in NNN REIT by 1.0% in the fourth quarter. Handelsbanken Fonder AB now owns 67,800 shares of the real estate investment trust’s stock valued at $2,687,000 after acquiring an additional 700 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in NNN REIT by 21.0% in the third quarter. Fiduciary Alliance LLC now owns 5,699 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 991 shares during the last quarter. Finally, Quent Capital LLC bought a new position in shares of NNN REIT in the 3rd quarter valued at about $51,000. 89.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NNN. Stifel Nicolaus set a $48.50 price target on shares of NNN REIT in a research note on Wednesday, February 11th. Wells Fargo & Company boosted their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Evercore reduced their target price on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating for the company in a report on Monday, December 15th. UBS Group decreased their target price on shares of NNN REIT from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, BNP Paribas Exane boosted their price target on shares of NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $44.61.

NNN REIT Company Profile

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.