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

NNN REIT, Inc. (NYSE:NNN) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $45.85.

Several equities analysts have recently weighed in on NNN shares. Robert W. Baird raised their price objective on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Colliers Securities cut shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. B. Riley lowered their target price on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. Finally, StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

NNN REIT Stock Performance

Shares of NNN stock opened at $39.54 on Tuesday. The company has a market capitalization of $7.41 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. NNN REIT has a 52 week low of $38.88 and a 52 week high of $49.57. The company’s 50 day moving average price is $42.38 and its two-hundred day moving average price is $44.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.58 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.87%. NNN REIT’s dividend payout ratio is 107.41%.

Insider Buying and Selling

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the transaction, the executive vice president now owns 68,756 shares in the company, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NNN REIT

A number of hedge funds have recently bought and sold shares of NNN. Sound Income Strategies LLC lifted its position in shares of NNN REIT by 19.0% during 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. OVERSEA CHINESE BANKING Corp Ltd increased its stake in NNN REIT by 17.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after purchasing an additional 28,476 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after purchasing an additional 15,100 shares during the period. Everence Capital Management Inc. acquired a new position in shares of NNN REIT during the fourth quarter valued at about $206,000. Finally, DGS Capital Management LLC bought a new position in shares of NNN REIT during the 3rd quarter worth about $236,000. Institutional investors own 89.96% of the company’s stock.

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.