NNN REIT, Inc. (NYSE:NNN) Given Average Recommendation of “Hold” by Analysts

NNN REIT, Inc. (NYSE:NNN) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $45.50.

A number of research firms have weighed in on NNN. Raymond James increased their target price on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. UBS Group raised their price target 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. StockNews.com raised shares of NNN REIT from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. B. Riley raised their target price on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price target on shares of NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd.

NNN REIT Trading Up 0.3 %

Shares of NNN opened at $48.15 on Friday. The company’s fifty day simple moving average is $46.89 and its 200-day simple moving average is $43.72. The company has a market cap of $8.84 billion, a P/E ratio of 22.09, a P/E/G ratio of 3.84 and a beta of 1.09. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. NNN REIT has a twelve month low of $34.38 and a twelve month high of $49.10.

NNN REIT (NYSE:NNN) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). The firm had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. As a group, analysts expect that NNN REIT will post 3.3 EPS for the current year.

NNN REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Wednesday, July 31st. This is a boost from NNN REIT’s previous quarterly dividend of $0.57. NNN REIT’s dividend payout ratio is presently 106.42%.

Insider Activity

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of NNN REIT stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the transaction, the executive vice president now owns 69,756 shares in the company, valued at $3,270,161.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

A number of institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC increased its stake in NNN REIT by 451.3% during the 2nd quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock valued at $11,285,000 after purchasing an additional 216,855 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of NNN REIT in the fourth quarter worth about $2,625,000. SG Americas Securities LLC boosted its position in NNN REIT by 95.5% in the first 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 during the last quarter. Strategic Advocates LLC purchased a new position in NNN REIT during the 1st quarter worth approximately $329,000. Finally, DGS Capital Management LLC acquired a new stake in NNN REIT during the 1st quarter valued at approximately $212,000. 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.