NNN REIT, Inc. (NYSE:NNN – Get Free Report) 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 – Get Free Report) 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
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.
Check Out Our Latest Stock Analysis on NNN REIT
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.
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