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

Shares of NNN REIT, Inc. (NYSE:NNN) have received an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $47.33.

Several equities analysts have issued reports on NNN shares. Royal Bank of Canada increased their price objective on shares of NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Wells Fargo & Company restated an “equal weight” rating and issued a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. StockNews.com raised NNN REIT from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Raymond James increased their price objective on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, B. Riley upped their target price on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th.

Insiders Place Their Bets

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of NNN REIT stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total transaction of $187,520.00. Following the transaction, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at $3,270,161.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of NNN REIT by 95.5% during the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock valued at $2,724,000 after acquiring an additional 31,141 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 19.0% during the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after purchasing an additional 50,213 shares during the period. Raymond James Trust N.A. increased its holdings in NNN REIT by 19.6% in the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock valued at $550,000 after purchasing an additional 2,120 shares during the last quarter. GAMMA Investing LLC raised its position in 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 purchasing an additional 1,123 shares during the period. Finally, DGS Capital Management LLC acquired a new position in NNN REIT during the first quarter worth $212,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Trading Down 0.2 %

Shares of NNN REIT stock opened at $48.33 on Thursday. The stock has a market cap of $8.86 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 3.79 and a beta of 1.09. The firm has a fifty day moving average price of $47.68 and a 200 day moving average price of $44.49. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. NNN REIT has a 1 year low of $34.61 and a 1 year high of $49.57.

NNN REIT (NYSE:NNN) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). The firm had revenue of $216.81 million during the quarter, compared to analyst estimates of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.80 EPS. Equities research analysts predict that NNN REIT will post 3.3 earnings per share for the current year.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Thursday, October 31st. NNN REIT’s payout ratio is currently 106.42%.

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.