NNN REIT, Inc. (NYSE:NNN) Stock Has Consensus Target Price of $46.56 According to Analysts

Key Points

• Analysts rate NNN REIT a consensus “Hold”: Of 15 covering brokerages, 10 recommend holding, three buying or strong buying, and two selling. The average one-year price target is $46.56.
• NNN REIT reported quarterly earnings of $0.57 per share, beating the $0.52 consensus estimate; revenue of $249.68 million also exceeded expectations.
• The REIT’s quarterly dividend of $0.62 annualizes to $2.48 per share, a 6.0% yield at the share price cited. Its dividend payout ratio was 118.1%.

NNN REIT, Inc. (NYSE:NNN - Get Free Report) has earned a consensus rating of "Hold" from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $46.56.

Several analysts recently weighed in on the stock. Robert W. Baird set a $49.00 target price on shares of NNN REIT in a report on Thursday, August 6th. Huntington began coverage on NNN REIT in a research report on Wednesday, November 4th. They issued a "strong-buy" rating on the stock. National Bank Financial set a $50.00 price target on NNN REIT in a research note on Monday, July 20th. B. Riley Financial restated a "neutral" rating and set a $47.50 price target (up from $46.00) on shares of NNN REIT in a research report on Wednesday, August 12th. Finally, Barclays dropped their price objective on NNN REIT from $47.00 to $43.00 and set an "underweight" rating for the company in a research note on Tuesday, October 20th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of NNN REIT during the 2nd quarter worth about $1,242,752,000. Bank of America Corp DE purchased a new position in shares of NNN REIT in the 2nd quarter valued at about $87,737,000. Bank of New York Mellon Corp purchased a new position in shares of NNN REIT in the 2nd quarter valued at about $85,430,000. Equity Investment Corp purchased a new position in shares of NNN REIT in the 2nd quarter valued at about $77,566,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of NNN REIT during the 2nd quarter worth about $66,584,000. Institutional investors and hedge funds own 89.96% of the company's stock.

NNN REIT Stock Up 0.5%

Shares of NYSE:NNN opened at $41.14 on Friday. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 5.00 and a beta of 0.77. NNN REIT has a 12-month low of $38.90 and a 12-month high of $50.00. The business has a 50-day moving average price of $41.57 and a 200 day moving average price of $44.22. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.10.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.05. The business had revenue of $249.68 million during the quarter, compared to analysts' expectations of $245.37 million. NNN REIT had a net margin of 40.89% and a return on equity of 8.93%. Sell-side analysts expect that NNN REIT will post 3.52 EPS for the current year.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 13th. Stockholders of record on Friday, October 30th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 6.0%. NNN REIT's dividend payout ratio (DPR) is presently 118.10%.

NNN REIT Company Profile

NNN REIT, Inc. is a real estate investment trust that owns and manages freestanding retail properties across the United States. Its portfolio includes properties leased to businesses in a range of retail categories. The company primarily uses long-term, single-tenant net leases. Under these arrangements, tenants generally pay property expenses such as taxes, insurance and maintenance in addition to rent. Founded in 1984, the company was formerly known as National Retail Properties before adopting the NNN REIT name in 2023.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.