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

NNN REIT, Inc. (NYSE:NNN) has earned an average rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $46.29.

NNN has been the topic of a number of research reports. B. Riley upped their target price on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a report on Friday, November 1st. StockNews.com lowered NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Raymond James boosted their target price on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, UBS Group decreased their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday.

Hedge Funds Weigh In On NNN REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new stake in NNN REIT in the first quarter worth $34,000. Bruce G. Allen Investments LLC raised its stake in NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares during the period. Versant Capital Management Inc bought a new position in NNN REIT during the second quarter worth about $59,000. Farther Finance Advisors LLC lifted its holdings in 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 acquiring an additional 280 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in NNN REIT by 93.2% in the second 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. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Up 0.9 %

Shares of NYSE NNN opened at $42.20 on Monday. 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 company has a market cap of $7.91 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10. NNN REIT has a 12-month low of $38.49 and a 12-month high of $49.57. The firm’s 50-day simple moving average is $46.73 and its 200 day simple moving average is $44.91.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.58 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.50%. NNN REIT’s dividend payout ratio is currently 107.41%.

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.