Key Points
- NNN REIT EVP Jonathan Adamo sold 6,000 shares at an average price of $44.99 for a total of $269,940, trimming his position by 4.53% to 126,358 shares (disclosed in an SEC filing).
- The company pays a quarterly dividend of $0.60 (annualized $2.40) implying a 5.3% yield, but its payout ratio is elevated at 115.94%, which may raise sustainability concerns.
- Analyst coverage is mixed with a MarketBeat consensus rating of "Reduce" and a consensus target of $44.83, while individual targets range roughly $43 to $48.50; the stock opened at $45.43 with a market cap of about $8.63 billion.
NNN REIT, Inc. (NYSE:NNN - Get Free Report) EVP Jonathan Adamo sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $44.99, for a total value of $269,940.00. Following the sale, the executive vice president owned 126,358 shares of the company's stock, valued at approximately $5,684,846.42. This trade represents a 4.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
NNN REIT Trading Up 0.7%
NYSE NNN opened at $45.43 on Tuesday. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 3.31 and a beta of 0.82. 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 12 month low of $35.80 and a 12 month high of $46.03. The company's fifty day moving average price is $42.77 and its two-hundred day moving average price is $41.92.
NNN REIT Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, January 30th. NNN REIT's payout ratio is presently 115.94%.
Wall Street Analysts Forecast Growth
NNN has been the subject of several analyst reports. UBS Group boosted their price target on shares of NNN REIT from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Monday. BNP Paribas Exane lifted their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the company a "strong sell" rating in a research report on Thursday, February 12th. B. Riley Financial reissued a "neutral" rating and set a $43.00 target price (down from $44.00) on shares of NNN REIT in a research note on Friday, November 14th. Robert W. Baird set a $46.00 target price on shares of NNN REIT in a research report on Thursday, February 12th. Finally, Stifel Nicolaus set a $48.50 price target on shares of NNN REIT in a research note on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NNN REIT presently has a consensus rating of "Reduce" and a consensus target price of $44.83.
Read Our Latest Stock Report on NNN
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of NNN. Quent Capital LLC acquired a new position in shares of NNN REIT in the 3rd quarter worth $51,000. Ameriflex Group Inc. lifted its holdings in shares of NNN REIT by 1,266.1% during the third quarter. Ameriflex Group Inc. now owns 2,336 shares of the real estate investment trust's stock valued at $99,000 after purchasing an additional 2,165 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of NNN REIT by 1,066.9% during the third quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust's stock valued at $182,000 after purchasing an additional 3,905 shares during the last quarter. Bayforest Capital Ltd boosted its position in shares of NNN REIT by 705.2% in the 3rd quarter. Bayforest Capital Ltd now owns 4,525 shares of the real estate investment trust's stock valued at $193,000 after purchasing an additional 3,963 shares during the period. Finally, Hanson & Doremus Investment Management purchased a new position in NNN REIT in the 4th quarter worth about $187,000. Institutional investors own 89.96% of the company's stock.
NNN REIT Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
