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

Shares of NNN REIT, Inc. (NYSE:NNN) have received a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $45.50.

Several research firms have recently issued reports on NNN. UBS Group increased their target price on shares of NNN REIT from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada boosted their price target on shares of NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Raymond James upped their price target on shares of NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. StockNews.com upgraded NNN REIT from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, B. Riley raised their target price on NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th.

NNN REIT Stock Up 0.3 %

NNN REIT stock opened at $48.15 on Friday. NNN REIT has a 52 week low of $34.38 and a 52 week high of $49.10. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 3.84 and a beta of 1.09. The business’s 50-day moving average price is $46.89 and its 200 day moving average price is $43.72. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

NNN REIT (NYSE:NNN) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The firm had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $212.30 million. During the same period last year, the firm earned $0.80 earnings per share. NNN REIT’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that NNN REIT will post 3.3 earnings per share for the current year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.82%. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, July 31st. NNN REIT’s dividend payout ratio (DPR) is 106.42%.

Insider Transactions at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the sale, the executive vice president now directly owns 69,756 shares in the company, valued at approximately $3,270,161.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On NNN REIT

A number of institutional investors have recently bought and sold shares of NNN. LRI Investments LLC purchased a new stake in NNN REIT in the first quarter valued at $34,000. Riverview Trust Co purchased a new stake in NNN REIT in the 1st quarter valued at about $43,000. Bruce G. Allen Investments LLC lifted its position in NNN REIT by 1,276.8% in the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,047 shares during the last quarter. Versant Capital Management Inc purchased a new position in NNN REIT during the second quarter worth about $59,000. Finally, GAMMA Investing LLC increased its position in shares of NNN REIT by 93.2% during 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. 89.96% of the stock is owned by hedge funds and other 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.