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

NNN REIT, Inc. (NYSE:NNN) has earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $44.54.

NNN has been the topic of a number of research reports. B. Riley reissued a “neutral” rating and issued a $43.00 target price (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on NNN REIT from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Barclays raised their target price on NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Jefferies Financial Group cut shares of NNN REIT from a “buy” rating to a “hold” rating and lowered their price target for the company from $52.00 to $43.00 in a research report on Thursday, January 2nd. Finally, Janney Montgomery Scott downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Wednesday, January 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in NNN REIT by 3,301.7% in the 1st quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust’s stock valued at $4,186,000 after purchasing an additional 95,253 shares in the last quarter. SG Americas Securities LLC raised its holdings in NNN REIT by 3,469.0% in the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after acquiring an additional 88,736 shares in the last quarter. Sound Income Strategies LLC lifted its stake in NNN REIT by 11.4% in the first quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust’s stock worth $16,401,000 after acquiring an additional 39,289 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in NNN REIT by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust’s stock worth $2,028,000 after acquiring an additional 14,850 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of NNN REIT in the 4th quarter valued at approximately $593,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

NNN REIT Price Performance

NNN REIT stock opened at $41.26 on Thursday. The company has a fifty day simple moving average of $41.39 and a 200-day simple moving average of $42.09. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.06 and a beta of 0.85. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT has a 52-week low of $35.80 and a 52-week high of $49.57.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.32 annualized dividend and a dividend yield of 5.62%. NNN REIT’s dividend payout ratio (DPR) is 107.91%.

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.