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

Shares of NNN REIT, Inc. (NYSE:NNN) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $46.29.

A number of equities research analysts recently weighed in on NNN shares. Robert W. Baird raised their target price on shares of NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research note on Monday, November 4th. B. Riley lifted their price target on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st.

NNN REIT Stock Performance

NYSE:NNN opened at $43.66 on Monday. The stock has a market cap of $8.19 billion, a P/E ratio of 20.21, a PEG ratio of 2.19 and a beta of 1.10. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The business’s 50-day moving average price is $46.22 and its two-hundred day moving average price is $44.92. NNN REIT has a twelve month low of $38.88 and a twelve month high of $49.57.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.58 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.31%. NNN REIT’s dividend payout ratio is currently 107.41%.

Institutional Investors Weigh In On NNN REIT

Several institutional investors have recently bought and sold shares of NNN. LRI Investments LLC bought a new stake in NNN REIT in the first quarter valued at approximately $34,000. Bruce G. Allen Investments LLC increased its stake in shares of 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 worth $48,000 after buying an additional 1,047 shares during the period. Versant Capital Management Inc bought a new stake in NNN REIT during the 2nd quarter valued at $59,000. GAMMA Investing LLC boosted its position in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 1,123 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 280 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.