NNN REIT, Inc. (NYSE:NNN) Receives Average Rating of “Hold” from Analysts

NNN REIT, Inc. (NYSE:NNN) has been given a consensus rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $46.29.

Several research firms have recently weighed in on NNN. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a research report on Monday, November 4th. Raymond James increased their price target on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Colliers Securities cut shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. Finally, UBS Group lowered their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday.

NNN REIT Trading Up 0.9 %

Shares of NYSE:NNN opened at $42.20 on Monday. NNN REIT has a 52-week low of $38.49 and a 52-week high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The company has a market cap of $7.91 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.13 and a beta of 1.10. The stock’s 50-day moving average is $46.73 and its 200-day moving average is $44.91.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.58 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.50%. NNN REIT’s payout ratio is currently 107.41%.

Institutional Investors Weigh In On NNN REIT

Several large investors have recently modified their holdings of the stock. LRI Investments LLC bought a new stake in shares of NNN REIT in the 1st quarter worth about $34,000. Bruce G. Allen Investments LLC grew its stake in NNN REIT by 1,276.8% during the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of NNN REIT during the second quarter worth approximately $59,000. GAMMA Investing LLC raised its stake in shares of NNN REIT by 93.2% in the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,123 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 280 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.