Analysts Set NNN REIT, Inc. (NYSE:NNN) Price Target at $44.54

NNN REIT, Inc. (NYSE:NNN) has received a consensus recommendation of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $44.54.

Several brokerages have recently issued reports on NNN. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 target price on the stock. Barclays lifted their target price on shares of NNN REIT from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Evercore ISI assumed coverage on NNN REIT in a report on Friday, January 31st. They set an “inline” rating and a $42.00 target price on the stock. Janney Montgomery Scott lowered NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Wednesday, January 15th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $43.00 price target (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th.

Hedge Funds Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNN. Goodman Financial Corp raised its stake in shares of NNN REIT by 1.2% in the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock worth $14,065,000 after purchasing an additional 3,388 shares during the last quarter. DGS Capital Management LLC purchased a new position in NNN REIT in the 3rd quarter worth about $236,000. Everence Capital Management Inc. bought a new position in NNN REIT during the 4th quarter valued at about $206,000. Steph & Co. lifted its stake in NNN REIT by 8.2% during the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 429 shares during the period. Finally, Red Spruce Capital LLC boosted its holdings in shares of NNN REIT by 16.9% during the 4th quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock valued at $1,775,000 after acquiring an additional 6,289 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

NNN REIT Stock Performance

NNN REIT stock opened at $41.33 on Friday. The firm has a fifty day simple moving average of $40.92 and a two-hundred day simple moving average of $43.18. 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 has a twelve month low of $37.55 and a twelve month high of $49.57. The company has a market capitalization of $7.77 billion, a PE ratio of 19.22, a P/E/G ratio of 2.06 and a beta of 1.10.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s payout ratio is 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.