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

NNN REIT, Inc. (NYSE:NNN) has been given an average rating of “Hold” by the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three 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 $44.92.

Several analysts recently weighed in on NNN shares. UBS Group dropped their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Robert W. Baird lifted their target price on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. BNP Paribas cut shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price for the company. in a research report on Monday, November 4th. B. Riley reaffirmed a “neutral” rating and set a $43.00 price target (down from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group downgraded shares of NNN REIT from a “buy” rating to a “hold” rating and cut their price objective for the company from $52.00 to $43.00 in a report on Thursday, January 2nd.

Insider Activity

In related news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the sale, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of NNN REIT

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its stake in shares of NNN REIT by 14.1% in the 3rd 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. Lindbrook Capital LLC raised its position in NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 305 shares during the last quarter. Steph & Co. boosted its stake in shares of NNN REIT by 8.2% during the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 429 shares in the last quarter. DGS Capital Management LLC boosted its stake in shares of NNN REIT by 9.5% during the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 461 shares in the last quarter. Finally, Putney Financial Group LLC bought a new stake in shares of NNN REIT during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Trading Up 2.1 %

Shares of NNN stock opened at $42.81 on Wednesday. NNN REIT has a 12-month low of $37.55 and a 12-month high of $49.57. The company has a market capitalization of $8.03 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11. The firm has a 50 day moving average price of $40.00 and a two-hundred day moving average price of $43.79. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s dividend payout ratio is presently 107.91%.

NNN REIT Company Profile

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.