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

Shares of NNN REIT, Inc. (NYSE:NNN) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $45.85.

Several research analysts have weighed in on the stock. Barclays began coverage on shares of NNN REIT in a report on Tuesday, December 17th. They set an “overweight” rating and a $48.00 price objective for the company. UBS Group decreased their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. StockNews.com lowered NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. B. Riley reduced their target price on NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price target for the company.

NNN REIT Stock Performance

NNN REIT stock opened at $39.54 on Tuesday. 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 of $42.38 and a 200-day moving average of $44.95. The stock has a market cap 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.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.58 per share. 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 currently 107.41%.

Insider Buying and Selling

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares in the company, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank lifted its stake in shares of NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock worth $4,420,000 after buying an additional 4,088 shares during the last quarter. Pathway Financial Advisers LLC raised its position in NNN REIT by 32.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 1,414 shares during the last quarter. Handelsbanken Fonder AB lifted its position in NNN REIT by 40.7% during 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 valued at $140,000 after purchasing an additional 553 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of NNN REIT by 19.0% in 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 buying an additional 50,213 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

About NNN REIT

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.