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

NNN REIT, Inc. (NYSE:NNN) has earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $45.94.

NNN has been the topic of a number of research reports. StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price target (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. B. Riley decreased their target price on NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research report on Wednesday, December 4th. UBS Group lowered their price objective on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Robert W. Baird raised their price target on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

NNN REIT Stock Performance

NNN stock opened at $42.41 on Friday. NNN REIT has a 1-year low of $38.88 and a 1-year high of $49.57. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average price of $44.84 and a 200-day moving average price of $45.03. The firm has a market cap of $7.95 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 annualized dividend and a yield of 5.47%. NNN REIT’s payout ratio is presently 107.41%.

Insider Activity

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 completion of the sale, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC increased its stake in shares of NNN REIT by 19.0% in the third quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after buying an additional 50,213 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of NNN REIT by 19.6% during the second quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock worth $550,000 after purchasing an additional 2,120 shares during the period. Farther Finance Advisors LLC increased its holdings in NNN REIT by 14.1% during the 3rd 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 period. OVERSEA CHINESE BANKING Corp Ltd raised its position in 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 valued at $9,134,000 after purchasing an additional 28,476 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after buying an additional 15,100 shares during the period. 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.