NNN REIT, Inc. (NYSE:NNN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of NNN REIT, Inc. (NYSE:NNN) have been assigned an average recommendation of “Hold” from the ten research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $43.7778.

A number of brokerages recently commented on NNN. Wells Fargo & Company lifted their price objective on NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Barclays reduced their target price on NNN REIT from $44.00 to $43.00 and set an “underweight” rating on the stock in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NNN REIT in a research note on Wednesday, October 8th. Evercore ISI reduced their price objective on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $43.00 target price (down previously from $44.00) on shares of NNN REIT in a research note on Friday, November 14th.

NNN REIT Stock Down 0.7%

Shares of NYSE:NNN opened at $39.50 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.44 and a quick ratio of 2.44. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 3.77 and a beta of 0.87. The company has a 50 day moving average of $40.93 and a 200-day moving average of $41.95. NNN REIT has a one year low of $35.80 and a one year high of $44.23.

NNN REIT (NYSE:NNN) last announced its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.86. NNN REIT had a net margin of 43.22% and a return on equity of 8.95%. The firm had revenue of $230.16 million for the quarter, compared to analysts’ expectations of $228.45 million. NNN REIT has set its FY 2025 guidance at 3.360-3.400 EPS. On average, sell-side analysts forecast that NNN REIT will post 3.33 earnings per share for the current year.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.40 annualized dividend and a dividend yield of 6.1%. NNN REIT’s payout ratio is 115.38%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNN. Allstate Corp increased its position in shares of NNN REIT by 159.5% during the first quarter. Allstate Corp now owns 25,510 shares of the real estate investment trust’s stock valued at $1,088,000 after acquiring an additional 15,678 shares during the last quarter. Sound Income Strategies LLC grew its stake in NNN REIT by 8.2% in the 2nd quarter. Sound Income Strategies LLC now owns 416,058 shares of the real estate investment trust’s stock valued at $17,965,000 after purchasing an additional 31,505 shares during the period. Adams Asset Advisors LLC grew its stake in NNN REIT by 119.0% in the 2nd quarter. Adams Asset Advisors LLC now owns 40,766 shares of the real estate investment trust’s stock valued at $1,760,000 after purchasing an additional 22,155 shares during the period. Red Spruce Capital LLC increased its position in shares of NNN REIT by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 48,252 shares of the real estate investment trust’s stock valued at $2,084,000 after purchasing an additional 345 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of NNN REIT by 140.8% during the 1st quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 469 shares during the period. 89.96% of the stock is currently owned by institutional investors.

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.