NNN REIT, Inc. (NYSE:NNN) Receives $46.29 Average PT from Analysts

NNN REIT, Inc. (NYSE:NNN) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $46.29.

A number of brokerages recently commented on NNN. Robert W. Baird boosted their price objective on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. UBS Group reduced their target price on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Raymond James increased their price target on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, StockNews.com lowered shares of NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Institutional Investors Weigh In On NNN REIT

Institutional investors have recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new stake in shares of NNN REIT in the first quarter valued at approximately $34,000. Bruce G. Allen Investments LLC boosted its position in shares of NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,047 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of NNN REIT during the 2nd quarter worth $59,000. Farther Finance Advisors LLC grew its stake in shares of NNN REIT by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 280 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of NNN REIT by 93.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 1,123 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Down 0.1 %

Shares of NNN opened at $43.66 on Monday. The stock has a 50 day moving average price of $46.22 and a 200 day moving average price of $44.96. NNN REIT has a one year low of $38.88 and a one year high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.21 and a beta of 1.10.

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.31%. The ex-dividend date was Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

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.