Analysts Set NNN REIT, Inc. (NYSE:NNN) PT at $44.50

NNN REIT, Inc. (NYSE:NNN) has been given a consensus rating of “Hold” by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $44.50.

Separately, BNP Paribas raised shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price target for the company in a report on Thursday.

Hedge Funds Weigh In On NNN REIT

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC boosted its position in shares of NNN REIT by 77.0% during the fourth quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 328 shares during the period. First United Bank & Trust purchased a new stake in NNN REIT during the 4th quarter worth approximately $39,000. GAMMA Investing LLC acquired a new stake in shares of NNN REIT in the fourth quarter valued at $39,000. Riverview Trust Co purchased a new position in NNN REIT in the first quarter valued at $43,000. Finally, EverSource Wealth Advisors LLC grew its stake in NNN REIT by 1,703.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 1,635 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Stock Performance

Shares of NNN REIT stock opened at $41.80 on Thursday. The company has a 50 day moving average price of $41.40 and a 200 day moving average price of $40.74. The firm has a market capitalization of $7.66 billion, a P/E ratio of 19.17, a PEG ratio of 4.84 and a beta of 1.00. The company has a quick ratio of 1.26, a current ratio of 0.52 and a debt-to-equity ratio of 1.04. NNN REIT has a 52 week low of $34.38 and a 52 week high of $44.96.

NNN REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.565 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.26 annualized dividend and a yield of 5.41%. NNN REIT’s dividend payout ratio is presently 103.67%.

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.