NNN REIT, Inc. (NYSE:NNN) Given Consensus Rating of “Hold” by Brokerages

NNN REIT, Inc. (NYSE:NNN) has earned an average rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $45.85.

A number of analysts recently weighed in on NNN shares. Colliers Securities downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. B. Riley reduced their price target on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price target for the company. Robert W. Baird raised their price objective on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada decreased their target price on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st.

NNN REIT Trading Down 2.3 %

NYSE:NNN opened at $38.01 on Tuesday. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. NNN REIT has a 1-year low of $37.92 and a 1-year high of $49.57. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.17 and a beta of 1.11. The business’s 50-day moving average price is $41.90 and its two-hundred day moving average price is $44.83.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is currently 107.41%.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sound Income Strategies LLC raised its stake 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 in the last quarter. Goodman Financial Corp increased its holdings in NNN REIT by 1.2% during the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock worth $14,065,000 after buying an additional 3,388 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in NNN REIT by 17.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after acquiring an additional 28,476 shares in the last quarter. Amalgamated Bank lifted its stake in NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after acquiring an additional 4,088 shares during the last quarter. Finally, Strengthening Families & Communities LLC lifted its stake in NNN REIT by 7.1% in the third quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after acquiring an additional 4,170 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.