NNN REIT (NYSE:NNN) EVP Jonathan Adamo Sells 6,000 Shares of Stock

NNN REIT, Inc. (NYSE:NNN) EVP Jonathan Adamo sold 6,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $44.99, for a total value of $269,940.00. Following the transaction, the executive vice president directly owned 126,358 shares in the company, valued at $5,684,846.42. This represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

NNN REIT Trading Up 0.7%

Shares of NNN opened at $45.43 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average is $42.77 and its two-hundred day moving average is $41.92. 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 PEG ratio of 3.31 and a beta of 0.82.

NNN REIT Dividend Announcement

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

Hedge Funds Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC lifted its stake in shares of NNN REIT by 180.0% during the fourth quarter. Virtu Financial LLC now owns 15,714 shares of the real estate investment trust’s stock worth $623,000 after purchasing an additional 10,101 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in NNN REIT during the 4th quarter worth approximately $1,300,000. Parallel Advisors LLC boosted its holdings in NNN REIT by 17.5% in the 4th quarter. Parallel Advisors LLC now owns 6,710 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 997 shares during the period. Rothschild Investment LLC grew its position in NNN REIT by 102.2% in the fourth quarter. Rothschild Investment LLC now owns 8,636 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 4,365 shares in the last quarter. Finally, Allstate Corp raised its stake in shares of NNN REIT by 25.4% during the fourth quarter. Allstate Corp now owns 7,756 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 1,569 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NNN shares. Deutsche Bank Aktiengesellschaft raised shares of NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Tuesday, January 20th. UBS Group upped their price objective on shares of NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday. B. Riley Financial reaffirmed a “neutral” rating and issued a $43.00 target price (down from $44.00) on shares of NNN REIT in a research note on Friday, November 14th. Evercore reduced their price target on NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Finally, Robert W. Baird set a $46.00 price objective on NNN REIT in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $44.83.

About NNN REIT

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.