Analysts Set NNN REIT, Inc. (NYSE:NNN) PT at $46.29

NNN REIT, Inc. (NYSE:NNN) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $46.29.

Several analysts recently weighed in on the stock. Robert W. Baird lifted their price target on shares of NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Royal Bank of Canada reduced their price target on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a report on Friday, November 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. Finally, BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price for the company. in a research note on Monday, November 4th.

NNN REIT Price Performance

Shares of NNN stock opened at $43.66 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The firm has a market cap of $8.19 billion, a P/E ratio of 20.21, a P/E/G ratio of 2.19 and a beta of 1.10. The business’s 50 day moving average price is $46.22 and its 200-day moving average price is $44.92. NNN REIT has a fifty-two week low of $38.88 and a fifty-two week high of $49.57.

NNN REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given 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 5.31%. NNN REIT’s dividend payout ratio is currently 107.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nicholas Hoffman & Company LLC. grew its stake in shares of NNN REIT by 1.8% in the second quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock worth $568,000 after acquiring an additional 240 shares during the last quarter. Farther Finance Advisors LLC boosted its stake 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 purchasing an additional 280 shares in the last quarter. GAMMA Investing LLC grew 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 valued at $140,000 after purchasing an additional 553 shares during the last quarter. LRI Investments LLC purchased a new stake in NNN REIT during the 1st quarter valued at about $34,000. Finally, Bruce G. Allen Investments LLC increased its stake in NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,047 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

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.