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

NNN REIT, Inc. (NYSE:NNN) has received an average rating of “Hold” from the thirteen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $44.54.

A number of brokerages have recently commented on NNN. Morgan Stanley raised NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research report on Wednesday, January 15th. Evercore ISI began coverage on NNN REIT in a research report on Friday, January 31st. They issued an “inline” rating and a $42.00 price target on the stock. Barclays boosted their price target on NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and dropped their price target for the stock from $52.00 to $43.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a research report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price target on the stock.

NNN REIT Stock Performance

Shares of NNN opened at $41.45 on Friday. 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 business’s 50 day moving average price is $40.82 and its 200-day moving average price is $43.31. NNN REIT has a 52 week low of $37.55 and a 52 week high of $49.57. The stock has a market cap of $7.77 billion, a P/E ratio of 19.28, a P/E/G ratio of 2.06 and a beta of 1.10.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.58 per share. The ex-dividend date was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.60%. NNN REIT’s dividend payout ratio is presently 107.91%.

Institutional Investors Weigh In On NNN REIT

A number of hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC raised its stake in NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after buying an additional 30,146 shares during the last quarter. Goodman Financial Corp raised its stake in NNN REIT by 3.1% during 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 last quarter. SG Americas Securities LLC raised its stake 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 valued at $3,729,000 after buying an additional 88,736 shares during the last quarter. Amalgamated Bank raised its stake 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 valued at $3,634,000 after buying an additional 1,521 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in NNN REIT by 6.5% during the 4th quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust’s stock valued at $2,271,000 after buying an additional 3,400 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.