NNN REIT, Inc. (NYSE:NNN) Given Average Rating of “Hold” by Analysts

NNN REIT, Inc. (NYSE:NNN) has received an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $44.54.

A number of analysts recently weighed in on the stock. Barclays upped their price target on shares of NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Morgan Stanley upgraded 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. B. Riley reaffirmed a “neutral” rating and set a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Wells Fargo & Company upped their price objective on NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Janney Montgomery Scott cut NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Wednesday, January 15th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NNN. Putney Financial Group LLC acquired a new stake in shares of NNN REIT in the fourth quarter valued at about $38,000. Lindbrook Capital LLC increased its position in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 305 shares during the period. Millstone Evans Group LLC acquired a new position in shares of NNN REIT during the fourth quarter worth approximately $42,000. Inlight Wealth Management LLC bought a new stake in shares of NNN REIT in the first quarter valued at approximately $57,000. Finally, NBC Securities Inc. grew its stake in shares of NNN REIT by 104,000.0% in the first quarter. NBC Securities Inc. now owns 2,082 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 2,080 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Price Performance

NYSE:NNN opened at $41.09 on Thursday. The company’s 50-day moving average is $41.42 and its two-hundred day moving average is $42.08. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. NNN REIT has a 12-month low of $35.80 and a 12-month high of $49.57.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Wednesday, April 30th. NNN REIT’s payout ratio is 107.91%.

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.