NNN REIT (NYSE:NNN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of NNN REIT (NYSE:NNN) from a hold rating to a buy rating in a report released on Friday morning.

Several other equities analysts also recently weighed in on the stock. UBS Group lifted their target price on shares of NNN REIT from $41.00 to $46.00 and gave the stock a neutral rating in a research note on Thursday, July 18th. BNP Paribas raised NNN REIT from an underperform rating to a neutral rating and set a $42.00 price target for the company in a report on Thursday, May 2nd. Finally, Wells Fargo & Company reduced their price target on NNN REIT from $43.00 to $42.00 and set an equal weight rating for the company in a research report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $45.17.

NNN REIT Price Performance

Shares of NYSE NNN opened at $46.57 on Friday. The company has a current ratio of 1.72, a quick ratio of 0.52 and a debt-to-equity ratio of 1.04. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 3.63 and a beta of 1.07. NNN REIT has a 1-year low of $34.38 and a 1-year high of $46.78. The stock has a fifty day simple moving average of $43.23 and a two-hundred day simple moving average of $42.02.

NNN REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.58 per share. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.32 annualized dividend and a yield of 4.98%. NNN REIT’s dividend payout ratio (DPR) is currently 106.42%.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently modified their holdings of NNN. Sound Income Strategies LLC increased its position in shares of NNN REIT by 451.3% in the second quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock worth $11,285,000 after purchasing an additional 216,855 shares during the last quarter. Goodman Financial Corp raised its position in shares of NNN REIT by 3.1% during the 4th quarter. Goodman Financial Corp now owns 249,930 shares of the real estate investment trust’s stock valued at $10,772,000 after buying an additional 7,480 shares in the last quarter. SG Americas Securities LLC raised its position in shares of NNN REIT by 95.5% during the 1st quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock valued at $2,724,000 after buying an additional 31,141 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of NNN REIT during the 4th quarter worth $2,625,000. Finally, Harbour Trust & Investment Management Co purchased a new position in NNN REIT in the fourth quarter worth $1,634,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.