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

NNN REIT, Inc. (NYSE:NNN) has received an average rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $44.50.

Separately, BNP Paribas upgraded NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price objective for the company in a research note on Thursday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cibc World Markets Corp bought a new position in NNN REIT in the 4th quarter worth about $2,625,000. Sound Income Strategies LLC boosted its stake in NNN REIT by 96,000.0% in the 1st quarter. Sound Income Strategies LLC now owns 48,050 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 48,000 shares during the period. Harbour Trust & Investment Management Co bought a new position in NNN REIT in the 4th quarter worth about $1,634,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of 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 valued at $2,167,000 after acquiring an additional 30,011 shares in the last quarter. Finally, Jeppson Wealth Management LLC purchased a new stake in shares of NNN REIT in the 4th quarter valued at about $993,000. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Up 0.4 %

Shares of NYSE:NNN opened at $40.68 on Thursday. The company has a market capitalization of $7.44 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 4.71 and a beta of 1.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day moving average price of $41.40 and a two-hundred day moving average price of $40.70. NNN REIT has a 1 year low of $34.38 and a 1 year high of $44.96.

NNN REIT Announces Dividend

The company 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 dividend of $0.565 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.26 annualized dividend and a dividend yield of 5.56%. NNN REIT’s payout ratio is 104.63%.

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.