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

Shares of NNN REIT, Inc. (NYSE:NNN) have been given an average rating of “Hold” by the thirteen brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $45.00.

NNN has been the topic of several research reports. UBS Group reduced their price target on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NNN REIT in a research report on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price on the stock. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research report on Wednesday, January 15th. B. Riley restated a “neutral” rating and set a $43.00 price objective (down from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group lowered NNN REIT from a “buy” rating to a “hold” rating and lowered their price objective for the company from $52.00 to $43.00 in a research note on Thursday, January 2nd.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Institutional investors and hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC raised its holdings in shares of NNN REIT by 9.6% in 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 purchasing an additional 30,146 shares in the last quarter. Everence Capital Management Inc. bought a new position in NNN REIT in the fourth quarter worth approximately $206,000. SG Americas Securities LLC raised its stake in NNN REIT by 3,469.0% in the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock worth $3,729,000 after buying an additional 88,736 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in NNN REIT during the fourth quarter worth $527,000. Finally, Red Spruce Capital LLC boosted its position in NNN REIT by 16.9% during the 4th quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock valued at $1,775,000 after acquiring an additional 6,289 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

NNN REIT Stock Performance

NYSE:NNN opened at $42.45 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 2.06 and a beta of 1.11. NNN REIT has a 1 year low of $37.55 and a 1 year high of $49.57. The stock’s 50 day simple moving average is $40.19 and its two-hundred day simple moving average is $43.68.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 annualized dividend and a yield of 5.47%. NNN REIT’s dividend payout ratio (DPR) is 107.91%.

NNN REIT Company Profile

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.