NNN REIT, Inc. (NYSE:NNN) Receives $45.85 Average Price Target from Analysts

Shares of NNN REIT, Inc. (NYSE:NNN) have been assigned an average rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $45.85.

Several brokerages recently commented on NNN. BNP Paribas cut shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a research note on Monday, November 4th. UBS Group reduced their price target on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. B. Riley decreased their price target on NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a research report on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price on the stock.

Insider Activity at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares in the company, valued at approximately $2,922,817.56. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NNN. Farther Finance Advisors LLC raised its holdings in shares of 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 purchasing an additional 280 shares during the period. GAMMA Investing LLC increased its position in NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 553 shares in the last quarter. DGS Capital Management LLC purchased a new position in NNN REIT in the third quarter valued at approximately $236,000. Everence Capital Management Inc. acquired a new position in NNN REIT during the fourth quarter valued at approximately $206,000. Finally, Pathway Financial Advisers LLC grew its stake in NNN REIT by 32.9% during the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 1,414 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

NNN REIT Price Performance

NNN REIT stock opened at $38.86 on Tuesday. The company has a market cap of $7.29 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. NNN REIT has a one year low of $38.38 and a one year high of $49.57. The business has a fifty day moving average of $42.00 and a two-hundred day moving average of $44.84. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85.

NNN REIT Announces Dividend

The business also recently declared 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 of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.97%. NNN REIT’s dividend payout ratio (DPR) is 107.41%.

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.