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

Shares of NNN REIT, Inc. (NYSE:NNN) have been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $44.54.

A number of equities analysts recently commented on NNN shares. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a report on Wednesday, January 15th. Royal Bank of Canada cut their price target on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. Evercore ISI began coverage on shares of NNN REIT in a report on Friday, January 31st. They issued an “inline” rating and a $42.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price on the stock. Finally, Barclays upped their price target on NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th.

NNN REIT Stock Performance

Shares of NYSE NNN opened at $42.05 on Friday. NNN REIT has a one year low of $37.55 and a one year high of $49.57. The business’s 50-day moving average price is $41.02 and its two-hundred day moving average price is $43.16. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $7.91 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date was Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is currently 107.91%.

Institutional Trading of NNN REIT

A number of hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC raised its position in shares of NNN REIT by 9.6% during the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after buying an additional 30,146 shares during the last quarter. Everence Capital Management Inc. bought a new position in NNN REIT during the fourth quarter valued at about $206,000. Goodman Financial Corp raised its holdings in NNN REIT by 3.1% in the 4th quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock valued at $12,219,000 after acquiring an additional 9,054 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of NNN REIT by 3,469.0% in the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock worth $3,729,000 after acquiring an additional 88,736 shares during the period. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of NNN REIT during the 4th quarter worth approximately $527,000. 89.96% of the stock is owned by 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.