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

NNN REIT, Inc. (NYSE:NNN) has earned an average rating of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $44.54.

NNN has been the topic of several recent analyst reports. Evercore ISI started coverage on NNN REIT in a report on Friday, January 31st. They issued an “inline” rating and a $42.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective on the stock. B. Riley reaffirmed a “neutral” rating and issued a $43.00 price target (down from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Morgan Stanley raised shares of 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. Finally, Wells Fargo & Company upped their target price on shares of NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, March 10th.

NNN REIT Trading Up 0.1 %

NYSE NNN opened at $42.06 on Friday. NNN REIT has a 52 week low of $37.55 and a 52 week high of $49.57. The firm has a 50 day moving average of $41.06 and a two-hundred day moving average of $43.08. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $7.91 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10.

NNN REIT Dividend Announcement

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

Institutional Trading of NNN REIT

A number of hedge funds have recently added to or reduced their stakes in NNN. Sound Income Strategies LLC raised its stake 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 worth $14,104,000 after purchasing an additional 30,146 shares during the last quarter. Goodman Financial Corp increased its stake 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 buying an additional 9,054 shares during the period. SG Americas Securities LLC raised its position in NNN REIT by 3,469.0% during 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 buying an additional 88,736 shares during the last quarter. Amalgamated Bank raised its position in NNN REIT by 1.7% during the 4th quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust’s stock worth $3,634,000 after buying an additional 1,521 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of NNN REIT by 6.5% in the 4th quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust’s stock worth $2,271,000 after acquiring an additional 3,400 shares during the period. 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.