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

Shares of NNN REIT, Inc. (NYSE:NNN) have earned an average rating of “Hold” from the six analysts that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $47.33.

A number of analysts recently commented on the company. Royal Bank of Canada increased their price target on NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Raymond James lifted their target price on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. UBS Group lifted their price objective on NNN REIT from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price target (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Finally, StockNews.com raised shares of NNN REIT from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd.

Insider Buying and Selling

In other news, EVP Michelle Lynn Miller sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the sale, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at $3,270,161.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On NNN REIT

Large investors have recently bought and sold shares of the business. LRI Investments LLC purchased a new stake in shares of NNN REIT in the 1st quarter worth $34,000. Bruce G. Allen Investments LLC raised its position in NNN REIT by 1,276.8% during the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,047 shares during the period. Versant Capital Management Inc bought a new position in NNN REIT during the second quarter valued at $59,000. GAMMA Investing LLC boosted its holdings in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,123 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in NNN REIT in the 1st quarter valued at about $184,000. 89.96% of the stock is currently owned by institutional investors.

NNN REIT Stock Down 0.2 %

Shares of NYSE NNN opened at $48.33 on Thursday. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $47.68 and its 200 day simple moving average is $44.49. The firm has a market cap of $8.86 billion, a PE ratio of 22.17, a P/E/G ratio of 3.79 and a beta of 1.09. NNN REIT has a 12-month low of $34.61 and a 12-month high of $49.57.

NNN REIT (NYSE:NNN) last posted its earnings results 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 business had revenue of $216.81 million during the quarter, compared to analyst estimates of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. As a group, sell-side analysts forecast that NNN REIT will post 3.3 earnings per share for the current fiscal year.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.58 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.32 annualized dividend and a yield of 4.80%. NNN REIT’s dividend payout ratio (DPR) is presently 106.42%.

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.