Analysts Set NNN REIT, Inc. (NYSE:NNN) PT at $47.33

Shares of NNN REIT, Inc. (NYSE:NNN) have been given an average recommendation of “Hold” by the six analysts that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $47.33.

A number of equities analysts have recently issued reports on the company. Raymond James raised their price target on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. UBS Group raised their target price on NNN REIT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price target on shares of NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. StockNews.com raised shares of NNN REIT from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, B. Riley upped their target price on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $46.58 on Thursday. The business has a 50-day simple moving average of $47.81 and a two-hundred day simple moving average of $44.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 3.86 and a beta of 1.09. NNN REIT has a fifty-two week low of $34.61 and a fifty-two week high of $49.57.

NNN REIT (NYSE:NNN) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The company had revenue of $216.81 million for the quarter, compared to the consensus estimate of $212.30 million. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect that NNN REIT will post 3.3 earnings per share for the current year.

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is 104.50%.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the sale, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at $3,270,161.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC bought a new stake in NNN REIT in the 1st quarter valued at $34,000. Bruce G. Allen Investments LLC lifted its position in shares of NNN REIT by 1,276.8% in the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares in the last quarter. Versant Capital Management Inc bought a new position in NNN REIT during the second quarter valued at approximately $59,000. GAMMA Investing LLC grew its holdings in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 1,123 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in NNN REIT in the 1st quarter worth approximately $184,000. 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.