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

NNN REIT, Inc. (NYSE:NNN) has been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $44.50.

Separately, BNP Paribas raised shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price target for the company in a report on Thursday, May 2nd.

Hedge Funds Weigh In On NNN REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goodman Financial Corp increased its holdings in shares of NNN REIT by 3.1% during the fourth quarter. Goodman Financial Corp now owns 249,930 shares of the real estate investment trust’s stock worth $10,772,000 after buying an additional 7,480 shares in the last quarter. SG Americas Securities LLC grew its position in NNN REIT by 95.5% during the 1st quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock worth $2,724,000 after acquiring an additional 31,141 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in NNN REIT by 95.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 61,335 shares of the real estate investment trust’s stock worth $2,167,000 after purchasing an additional 30,011 shares in the last quarter. Cibc World Markets Corp bought a new position in NNN REIT in the fourth quarter valued at about $2,625,000. Finally, Sound Income Strategies LLC raised its position in NNN REIT by 96,000.0% in the first quarter. Sound Income Strategies LLC now owns 48,050 shares of the real estate investment trust’s stock valued at $2,054,000 after purchasing an additional 48,000 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Down 1.7 %

NNN stock opened at $41.72 on Thursday. The company has a market cap of $7.65 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 4.86 and a beta of 1.00. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.04. NNN REIT has a 52 week low of $34.38 and a 52 week high of $44.87. The business has a 50-day simple moving average of $41.48 and a 200 day simple moving average of $40.91.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.565 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.26 dividend on an annualized basis and a dividend yield of 5.42%. NNN REIT’s payout ratio is currently 103.67%.

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.