NNN REIT, Inc. (NYSE:NNN) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of NNN REIT, Inc. (NYSE:NNN) have earned a consensus recommendation of “Reduce” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $44.6111.

Several brokerages have commented on NNN. Weiss Ratings reissued a “hold (c)” rating on shares of NNN REIT in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft upgraded NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, January 20th. Stifel Nicolaus set a $48.50 price target on NNN REIT in a report on Wednesday, February 11th. BNP Paribas Exane lifted their price objective on NNN REIT from $43.00 to $44.00 and gave the company a “strong sell” rating in a research note on Thursday, February 12th. Finally, Wells Fargo & Company boosted their price objective on NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th.

NNN REIT Stock Up 1.0%

Shares of NNN opened at $44.79 on Wednesday. The company’s 50-day simple moving average is $41.37 and its 200-day simple moving average is $41.61. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. NNN REIT has a 1 year low of $35.80 and a 1 year high of $45.47. The stock has a market capitalization of $8.51 billion, a PE ratio of 21.64, a P/E/G ratio of 3.16 and a beta of 0.86.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.4%. The ex-dividend date was Friday, January 30th. NNN REIT’s payout ratio is 115.94%.

Hedge Funds Weigh In On NNN REIT

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its stake in NNN REIT by 616.2% in the third quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock valued at $3,082,000 after buying an additional 62,299 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 8.0% during the 4th quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock worth $20,000,000 after acquiring an additional 34,852 shares in the last quarter. Horizon Investments LLC raised its position in shares of NNN REIT by 65.0% during the 3rd quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust’s stock worth $3,230,000 after acquiring an additional 30,333 shares in the last quarter. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of NNN REIT during the 3rd quarter worth about $879,000. Finally, Captrust Financial Advisors lifted its stake in NNN REIT by 17.3% during the third quarter. Captrust Financial Advisors now owns 135,241 shares of the real estate investment trust’s stock worth $5,757,000 after purchasing an additional 19,976 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

About NNN REIT

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.