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

Shares of NNN REIT, Inc. (NYSE:NNN) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $45.50.

Several brokerages have commented on NNN. Evercore ISI initiated coverage on NNN REIT in a research report on Friday. They issued an “inline” rating and a $42.00 price target on the stock. Janney Montgomery Scott downgraded NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Wednesday, January 15th. Jefferies Financial Group lowered shares of NNN REIT from a “buy” rating to a “hold” rating and lowered their target price for the stock from $52.00 to $43.00 in a report on Thursday, January 2nd. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a report on Monday, November 4th. Finally, Colliers Securities downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st.

NNN REIT Trading Down 0.8 %

Shares of NNN stock opened at $39.37 on Friday. The company has a market cap of $7.38 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. NNN REIT has a 12 month low of $37.55 and a 12 month high of $49.57. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $40.99 and its two-hundred day moving average is $44.50.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Friday, January 31st. NNN REIT’s payout ratio is 107.41%.

Insider Transactions at NNN REIT

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

Institutional Investors Weigh In On NNN REIT

Several large investors have recently modified their holdings of NNN. Sound Income Strategies LLC increased its position in shares of NNN REIT by 9.6% during the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock worth $14,104,000 after acquiring an additional 30,146 shares in the last quarter. Everence Capital Management Inc. bought a new position in NNN REIT during the 4th quarter worth about $206,000. SG Americas Securities LLC raised its stake in shares of NNN REIT by 3,469.0% in the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after purchasing an additional 88,736 shares during the period. Red Spruce Capital LLC lifted its holdings in shares of NNN REIT by 16.9% in the fourth quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock valued at $1,775,000 after purchasing an additional 6,289 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of 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 worth $110,000 after buying an additional 280 shares during the period. 89.96% of the stock is currently 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.