Brokerages Set NNN REIT, Inc. (NYSE:NNN) PT at $45.94

Shares of NNN REIT, Inc. (NYSE:NNN) have been assigned an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $45.94.

Several equities analysts have recently issued reports on NNN shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 price target for the company. Robert W. Baird increased their price objective on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Colliers Securities cut NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada reduced their price target on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. 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 report on Monday, November 4th.

NNN REIT Price Performance

Shares of NYSE NNN opened at $42.58 on Friday. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. NNN REIT has a twelve month low of $38.88 and a twelve month high of $49.57. The business has a 50 day simple moving average of $44.73 and a 200-day simple moving average of $45.10. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date was Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is currently 107.41%.

Insider Activity at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total value of $42,510.00. Following the sale, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC raised its position in shares of NNN REIT by 100.6% during the 2nd quarter. LRI Investments LLC now owns 1,613 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 809 shares during the last quarter. Farther Finance Advisors LLC boosted its position in NNN REIT by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 280 shares during the last quarter. GAMMA Investing LLC raised its position in NNN REIT by 23.8% during the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 553 shares in the last quarter. DGS Capital Management LLC acquired a new position in NNN REIT in the 3rd quarter valued at about $236,000. Finally, Pathway Financial Advisers LLC increased its stake in shares of NNN REIT by 32.9% during the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 1,414 shares during the period. Institutional investors and hedge funds 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.