Short Interest in NNN REIT, Inc. (NYSE:NNN) Rises By 16.1%

NNN REIT, Inc. (NYSE:NNN) saw a large growth in short interest in the month of 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 daily volume of 1,280,000 shares, the short-interest ratio is currently 4.2 days. Approximately 2.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NNN shares. Jefferies Financial Group downgraded NNN REIT from a “buy” rating to a “hold” rating and decreased their price target for the company from $52.00 to $43.00 in a research note on Thursday, January 2nd. B. Riley restated a “neutral” rating and set a $43.00 target price (down from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. Evercore ISI assumed coverage on shares of NNN REIT in a report on Friday, January 31st. They issued an “inline” rating and a $42.00 price target for the company. Janney Montgomery Scott downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Wednesday, January 15th. Finally, Wells Fargo & Company upped their price target on NNN REIT from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.54.

NNN REIT Trading Down 0.6 %

NNN traded down $0.24 during trading on Thursday, hitting $41.46. The company’s stock had a trading volume of 481,039 shares, compared to its average volume of 1,271,154. The stock has a market cap of $7.78 billion, a PE ratio of 19.29, a PEG ratio of 2.06 and a beta of 1.10. The firm’s 50 day moving average price is $40.70 and its 200-day moving average price is $43.39. NNN REIT has a twelve month low of $37.55 and a twelve month high of $49.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.60%. NNN REIT’s dividend payout ratio (DPR) is presently 107.91%.

Institutional Investors Weigh In On NNN REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in NNN REIT by 3,469.0% in the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after buying an additional 88,736 shares during the period. Sound Income Strategies LLC raised its holdings in shares of NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after buying an additional 30,146 shares during the period. Pinebridge Investments L.P. boosted its holdings in NNN REIT by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust’s stock worth $2,028,000 after acquiring an additional 14,850 shares during the period. Tudor Investment Corp ET AL acquired a new stake in NNN REIT in the fourth quarter valued at approximately $593,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of NNN REIT during the fourth quarter valued at approximately $527,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.