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

NNN REIT, Inc. (NYSE:NNN) has earned a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $44.29.

A number of equities research analysts recently issued reports on NNN shares. Wells Fargo & Company dropped their target price on shares of NNN REIT from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. UBS Group initiated coverage on shares of NNN REIT in a research report on Friday, May 31st. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, BNP Paribas upgraded shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price objective for the company in a research report on Thursday, May 2nd.

Institutional Investors Weigh In On NNN REIT

Institutional investors have recently modified their holdings of the business. Pathway Financial Advisers LLC bought a new position in NNN REIT during the 1st quarter worth approximately $184,000. LRI Investments LLC bought a new position in NNN REIT during the 1st quarter worth approximately $34,000. SG Americas Securities LLC boosted its stake in NNN REIT by 95.5% during the 1st quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock worth $2,724,000 after acquiring an additional 31,141 shares during the last quarter. Essex Financial Services Inc. boosted its stake in NNN REIT by 16.3% during the 1st quarter. Essex Financial Services Inc. now owns 14,836 shares of the real estate investment trust’s stock worth $634,000 after acquiring an additional 2,081 shares during the last quarter. Finally, DGS Capital Management LLC bought a new position in NNN REIT during the 1st quarter worth approximately $212,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Trading Down 0.3 %

Shares of NNN REIT stock opened at $42.09 on Friday. The stock has a market capitalization of $7.72 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 3.33 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.04. The company has a 50-day simple moving average of $41.52 and a 200 day simple moving average of $41.68. NNN REIT has a 12-month low of $34.38 and a 12-month high of $44.87.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.565 per share. This represents a $2.26 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, April 29th. NNN REIT’s dividend payout ratio is 103.67%.

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.