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

Shares of NNN REIT, Inc. (NYSE:NNN) have received a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $45.94.

A number of analysts have recently weighed in on NNN shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $50.00 target price (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. UBS Group decreased their target price on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. B. Riley dropped their price target on NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Raymond James lifted their price objective on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird boosted their target price on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

NNN REIT Trading Down 0.1 %

NNN opened at $42.41 on Friday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. NNN REIT has a 52 week low of $38.88 and a 52 week high of $49.57. The stock has a market cap of $7.95 billion, a PE ratio of 19.63, a PEG ratio of 2.16 and a beta of 1.10. The business has a 50 day moving average of $44.84 and a 200-day moving average of $45.03.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.47%. The ex-dividend date was Thursday, October 31st. NNN REIT’s dividend payout ratio is currently 107.41%.

Insider Activity

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $2,922,817.56. This represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Hedge funds have recently bought and sold shares of the company. LRI Investments LLC increased its stake in shares of NNN REIT by 100.6% in the 2nd quarter. LRI Investments LLC now owns 1,613 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 809 shares in the last quarter. Farther Finance Advisors LLC increased its position in NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 280 shares in the last quarter. GAMMA Investing LLC increased its position in NNN REIT by 23.8% in the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 553 shares in the last quarter. DGS Capital Management LLC bought a new position in shares of NNN REIT in the third quarter worth about $236,000. Finally, Pathway Financial Advisers LLC lifted its position in shares of NNN REIT by 32.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 1,414 shares in the last quarter. Hedge funds and other 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.