Michelle Lynn Miller Sells 1,000 Shares of NNN REIT, Inc. (NYSE:NNN) Stock

NNN REIT, Inc. (NYSE:NNN) EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares in the company, valued at $2,922,817.56. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

NNN REIT Stock Down 0.7 %

NNN traded down $0.31 on Tuesday, reaching $42.40. The company’s stock had a trading volume of 1,016,370 shares, compared to its average volume of 1,172,650. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. NNN REIT, Inc. has a 1 year low of $38.88 and a 1 year high of $49.57. The business’s 50 day moving average is $45.20 and its 200 day moving average is $45.06. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.58 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.47%. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group cut their target price on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Raymond James raised their price objective on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. B. Riley dropped their target price on NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Finally, Robert W. Baird upped their price target on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, NNN REIT currently has a consensus rating of “Hold” and a consensus price target of $45.93.

Institutional Trading of NNN REIT

Several institutional investors have recently added to or reduced their stakes in NNN. LRI Investments LLC raised its stake in shares of NNN REIT by 100.6% in the 2nd 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 in the last quarter. Raymond James Trust N.A. lifted its holdings in NNN REIT by 19.6% during the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock worth $550,000 after buying an additional 2,120 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in shares of NNN REIT by 1.8% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock worth $568,000 after acquiring an additional 240 shares in the last quarter. Amalgamated Bank increased its holdings in shares of NNN REIT by 4.1% in the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after acquiring an additional 4,088 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in shares of NNN REIT by 32.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 1,414 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.