NNN REIT, Inc. (NYSE:NNN) Receives $46.29 Consensus Target Price from Analysts

NNN REIT, Inc. (NYSE:NNN) has earned a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.29.

Several research analysts recently commented on NNN shares. Robert W. Baird raised their target price on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. StockNews.com cut NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. B. Riley increased their price target on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Raymond James lifted their price target on shares of NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research note on Monday, November 4th.

NNN REIT Stock Up 1.1 %

NYSE NNN opened at $43.92 on Monday. NNN REIT has a twelve month low of $38.73 and a twelve month 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 cap of $8.24 billion, a PE ratio of 20.33, a PEG ratio of 2.13 and a beta of 1.10. The firm has a 50-day simple moving average of $46.42 and a 200 day simple moving average of $44.92.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.58 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.28%. NNN REIT’s dividend payout ratio (DPR) is 107.41%.

Hedge Funds Weigh In On NNN REIT

Hedge funds have recently made changes to their positions in the business. Sound Income Strategies LLC grew its position in shares of NNN REIT by 19.0% in the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock valued at $15,280,000 after acquiring an additional 50,213 shares during the period. Goodman Financial Corp increased its stake in NNN REIT by 1.2% in the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after acquiring an additional 3,388 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of NNN REIT by 17.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after buying an additional 28,476 shares in the last quarter. Amalgamated Bank lifted its stake in NNN REIT by 4.1% in the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after purchasing an additional 4,088 shares during the last quarter. Finally, Strengthening Families & Communities LLC raised its position in NNN REIT by 7.1% in the third quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after purchasing an additional 4,170 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

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.