NNN REIT, Inc. (NYSE:NNN) Receives Average Recommendation of "Reduce" from Brokerages

Key Points

• NNN REIT has an average analyst recommendation of "Reduce" from nine analysts (2 sell, 6 hold, 1 buy) and a mean 12‑month price target of about $45.06.
• The company recently declared a quarterly dividend of $0.60 (annualized $2.40), a 5.5% yield
• Insiders have trimmed positions recently: CEO Stephen A. Horn Jr. sold 33,192 shares (~$1.49M) and EVP Jonathan Adamo sold 6,000 shares (~$270K); insiders now own 0.90% of the stock.

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) have earned an average rating of "Reduce" from the nine analysts that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $45.0556.

NNN has been the topic of several recent analyst reports. Stifel Nicolaus set a $48.50 target price on shares of NNN REIT in a research note on Wednesday, February 11th. Robert W. Baird set a $46.00 target price on shares of NNN REIT in a research note on Thursday, February 12th. Barclays boosted their target price on shares of NNN REIT from $43.00 to $45.00 and gave the company an "underweight" rating in a research note on Tuesday, April 21st. Raymond James Financial reissued a "market perform" rating on shares of NNN REIT in a research note on Tuesday, March 17th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of NNN REIT in a research note on Thursday, January 22nd.

Insider Buying and Selling at NNN REIT

In other NNN REIT news, CEO Stephen A. Horn, Jr. sold 33,192 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 822,711 shares of the company's stock, valued at $37,005,540.78. The trade was a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Adamo sold 6,000 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $44.99, for a total transaction of $269,940.00. Following the sale, the executive vice president directly owned 126,358 shares in the company, valued at approximately $5,684,846.42. This trade represents a 4.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On NNN REIT

A number of hedge funds have recently modified their holdings of NNN. Quent Capital LLC acquired a new position in shares of NNN REIT in the third quarter worth $51,000. Root Financial Partners LLC increased its stake in shares of NNN REIT by 3,354.1% in the first quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 1,241 shares during the last quarter. Ameriflex Group Inc. increased its stake in shares of NNN REIT by 1,266.1% in the third quarter. Ameriflex Group Inc. now owns 2,336 shares of the real estate investment trust's stock worth $99,000 after acquiring an additional 2,165 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of NNN REIT by 1,066.9% in the third quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust's stock worth $182,000 after acquiring an additional 3,905 shares during the last quarter. Finally, Hanson & Doremus Investment Management acquired a new position in shares of NNN REIT in the fourth quarter worth $187,000. 89.96% of the stock is owned by institutional investors and hedge funds.

NNN REIT Price Performance

NYSE NNN opened at $43.89 on Monday. The stock has a market capitalization of $8.35 billion, a P/E ratio of 21.20, a P/E/G ratio of 5.89 and a beta of 0.85. NNN REIT has a 1 year low of $38.90 and a 1 year high of $46.03. The business's fifty day moving average is $44.04 and its two-hundred day moving average is $42.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Thursday, April 30th. NNN REIT's payout ratio is 115.94%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.