NNN REIT, Inc. (NYSE:NNN) Announces $0.60 Quarterly Dividend

NNN REIT, Inc. (NYSE:NNN) declared a quarterly dividend on Wednesday, April 15th. Investors of record on Thursday, April 30th will be paid a dividend of 0.60 per share by the real estate investment trust on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, April 30th.

NNN REIT has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 35 consecutive years. NNN REIT has a payout ratio of 115.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect NNN REIT to earn $3.51 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 68.4%.

NNN REIT Trading Up 0.5%

NNN opened at $44.29 on Thursday. The stock has a 50-day moving average of $43.88 and a 200 day moving average of $42.11. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. NNN REIT has a 12 month low of $38.90 and a 12 month high of $46.03. The firm has a market cap of $8.43 billion, a P/E ratio of 21.39, a P/E/G ratio of 5.92 and a beta of 0.85.

Insider Activity at NNN REIT

In related news, EVP Jonathan Adamo sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $44.99, for a total transaction of $269,940.00. Following the completion of the sale, the executive vice president directly owned 126,358 shares of the company’s stock, valued at approximately $5,684,846.42. This trade represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $44.98, for a total value of $1,492,976.16. Following the transaction, the chief executive officer owned 822,711 shares of the company’s stock, valued at approximately $37,005,540.78. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. 0.90% of the stock is owned by insiders.

Institutional Trading of NNN REIT

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in shares of NNN REIT by 616.2% during the third quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock valued at $3,082,000 after purchasing an additional 62,299 shares during the period. Sound Income Strategies LLC increased its stake in NNN REIT by 8.0% in the 4th quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock worth $20,000,000 after buying an additional 34,852 shares during the period. Tudor Investment Corp ET AL purchased a new position in NNN REIT in the 4th quarter worth about $1,300,000. Horizon Investments LLC lifted its holdings in NNN REIT by 65.0% during the 3rd quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust’s stock valued at $3,230,000 after buying an additional 30,333 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in NNN REIT during the 3rd quarter valued at about $879,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

About NNN REIT

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.