NNN REIT (NYSE:NNN) Shares Gap Up – What’s Next?

NNN REIT, Inc. (NYSE:NNN) gapped up prior to trading on Tuesday . The stock had previously closed at $38.06, but opened at $39.14. NNN REIT shares last traded at $39.67, with a volume of 443,107 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. B. Riley reduced their price target on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Evercore ISI initiated coverage on NNN REIT in a research note on Friday, January 31st. They set an “inline” rating and a $42.00 price target on the stock. Robert W. Baird boosted their price objective on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Janney Montgomery Scott downgraded NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Wednesday, January 15th. Finally, Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.35.

NNN REIT Trading Up 5.8 %

The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The business’s fifty day moving average is $40.36 and its 200 day moving average is $44.18. The stock has a market cap of $7.55 billion, a PE ratio of 18.58, a P/E/G ratio of 1.94 and a beta of 1.11.

NNN REIT (NYSE:NNN) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.82 EPS for the quarter, hitting analysts’ consensus estimates of $0.82. NNN REIT had a return on equity of 9.37% and a net margin of 45.63%. As a group, analysts predict that NNN REIT, Inc. will post 3.27 earnings per share for the current year.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Friday, January 31st. NNN REIT’s payout ratio is currently 107.41%.

Insider Transactions at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the sale, the executive vice president now owns 68,756 shares of the company’s stock, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sound Income Strategies LLC boosted its holdings in shares of NNN REIT by 9.6% during the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock worth $14,104,000 after purchasing an additional 30,146 shares during the last quarter. Everence Capital Management Inc. purchased a new position in NNN REIT during the fourth quarter worth about $206,000. SG Americas Securities LLC boosted its stake in NNN REIT by 3,469.0% in the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock worth $3,729,000 after buying an additional 88,736 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of NNN REIT during the 4th quarter valued at about $527,000. Finally, Red Spruce Capital LLC lifted its holdings in shares of NNN REIT by 16.9% during the 4th quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock worth $1,775,000 after acquiring an additional 6,289 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

About NNN REIT

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.