NNN REIT, Inc. (NYSE:NNN) Short Interest Update

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

Hedge Funds Weigh In On NNN REIT

A number of institutional investors and hedge funds have recently bought and sold shares of NNN. Goodman Financial Corp grew its position in NNN REIT by 1.2% in the 3rd quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after buying an additional 3,388 shares in the last quarter. DGS Capital Management LLC bought a new position in NNN REIT in the 3rd quarter valued at about $236,000. Everence Capital Management Inc. bought a new position in NNN REIT in the 4th quarter valued at about $206,000. Steph & Co. grew its position in NNN REIT by 8.2% in the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 429 shares in the last quarter. Finally, Red Spruce Capital LLC grew its position in NNN REIT by 16.9% in the 4th quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock valued at $1,775,000 after buying an additional 6,289 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Down 0.3 %

NNN stock opened at $41.59 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT has a fifty-two week low of $37.55 and a fifty-two week high of $49.57. The firm’s 50-day simple moving average is $40.76 and its 200 day simple moving average is $43.37. The stock has a market cap of $7.80 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.58%. NNN REIT’s dividend payout ratio is presently 107.91%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price target on the stock. Janney Montgomery Scott cut shares of NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Wednesday, January 15th. Royal Bank of Canada dropped their target price on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley raised shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a report on Wednesday, January 15th. Finally, Barclays increased their target price on shares of NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.54.

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.