NNN REIT, Inc. (NYSE:NNN) Short Interest Up 16.1% in February

NNN REIT, Inc. (NYSE:NNN) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,330,000 shares, an increase of 16.1% from the February 13th total of 4,590,000 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 4.2 days.

NNN REIT Stock Down 1.4 %

NNN traded down $0.59 on Wednesday, hitting $41.65. 1,367,089 shares of the company were exchanged, compared to its average volume of 1,073,609. NNN REIT has a 12 month low of $37.55 and a 12 month high of $49.57. The company has a market cap of $7.81 billion, a PE ratio of 19.37, a PEG ratio of 2.06 and a beta of 1.10. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. The stock’s fifty day moving average is $40.70 and its 200-day moving average is $43.39.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.32 annualized dividend and a yield of 5.57%. NNN REIT’s payout ratio is presently 107.91%.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently bought and sold shares of NNN. Putney Financial Group LLC bought a new stake in NNN REIT in the fourth quarter valued at approximately $38,000. Lindbrook Capital LLC raised its stake in NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 305 shares during the period. Millstone Evans Group LLC bought a new stake in NNN REIT in the fourth quarter valued at approximately $42,000. DGS Capital Management LLC bought a new stake in NNN REIT in the third quarter valued at approximately $236,000. Finally, EverSource Wealth Advisors LLC raised its stake in NNN REIT by 882.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 4,449 shares during the period. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NNN shares. Deutsche Bank Aktiengesellschaft started coverage on NNN REIT in a research note on Wednesday, December 11th. They set a “hold” rating and a $46.00 price objective for the company. Barclays lifted their price objective on NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Wells Fargo & Company boosted their target price on NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Morgan Stanley raised NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Wednesday, January 15th. Finally, B. Riley reissued a “neutral” rating and issued a $43.00 target price (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NNN REIT presently has a consensus rating of “Hold” and an average target price of $44.54.

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.