NNN REIT, Inc. (NYSE:NNN) Receives $45.85 Consensus PT from Analysts

NNN REIT, Inc. (NYSE:NNN) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $45.85.

Several research analysts recently weighed in on NNN shares. Barclays initiated coverage on shares of NNN REIT in a research report on Tuesday, December 17th. They set an “overweight” rating and a $48.00 price target for the company. Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Jefferies Financial Group lowered NNN REIT from a “buy” rating to a “hold” rating and lowered their price target for the stock from $52.00 to $43.00 in a research note on Thursday, January 2nd. Robert W. Baird increased their price objective on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

NNN REIT Trading Up 0.3 %

NNN stock opened at $38.86 on Tuesday. 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 $38.38 and a 52-week high of $49.57. The company’s 50-day simple moving average is $42.00 and its 200-day simple moving average is $44.84. The firm has a market cap of $7.29 billion, a P/E ratio of 17.99, a PEG ratio of 2.17 and a beta of 1.11.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid 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 yield of 5.97%. NNN REIT’s dividend payout ratio is currently 107.41%.

Insider Transactions at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the sale, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its holdings in shares of NNN REIT by 19.0% during the third 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 during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of NNN REIT by 17.8% in the 3rd 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 during the period. Handelsbanken Fonder AB boosted its holdings in shares of NNN REIT by 40.7% in the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after acquiring an additional 15,100 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of NNN REIT during the fourth quarter worth about $206,000. Finally, DGS Capital Management LLC purchased a new position in NNN REIT during the third quarter worth about $236,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.