Michelle Lynn Miller Sells 4,000 Shares of NNN REIT, Inc. (NYSE:NNN) Stock

NNN REIT, Inc. (NYSE:NNN) EVP Michelle Lynn Miller sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the transaction, the executive vice president now owns 69,756 shares of the company’s stock, valued at $3,270,161.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NNN REIT Stock Up 0.2 %

NNN REIT stock traded up $0.11 during mid-day trading on Friday, hitting $46.18. The company had a trading volume of 1,125,310 shares, compared to its average volume of 1,222,631. The business has a fifty day moving average of $43.76 and a 200 day moving average of $42.17. NNN REIT, Inc. has a 1 year low of $34.38 and a 1 year high of $47.19. The company has a quick ratio of 0.52, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 3.63 and a beta of 1.07.

NNN REIT (NYSE:NNN) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The company had revenue of $216.81 million during the quarter, compared to analyst estimates of $212.30 million. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that NNN REIT, Inc. will post 3.29 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.02%. This is a boost from NNN REIT’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, July 31st. NNN REIT’s payout ratio is presently 106.42%.

Analyst Ratings Changes

NNN has been the subject of a number of recent analyst reports. StockNews.com raised NNN REIT from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. B. Riley lifted their price target on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company decreased their price objective on shares of NNN REIT from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. UBS Group increased their price objective on shares of NNN REIT from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, BNP Paribas raised shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price objective on the stock in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NNN. Harbour Trust & Investment Management Co purchased a new position in NNN REIT during the 4th quarter worth $1,634,000. Lindbrook Capital LLC lifted its position in NNN REIT by 77.0% in the fourth quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 328 shares during the period. Handelsbanken Fonder AB increased its position in NNN REIT by 13.7% during the 4th quarter. Handelsbanken Fonder AB now owns 29,800 shares of the real estate investment trust’s stock worth $1,284,000 after purchasing an additional 3,600 shares during the period. GAMMA Investing LLC purchased a new position in shares of NNN REIT during the 4th quarter worth approximately $39,000. Finally, Essex Financial Services Inc. lifted its holdings in shares of NNN REIT by 9.3% in the 4th quarter. Essex Financial Services Inc. now owns 12,755 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 1,080 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.