NNN REIT, Inc. (NYSE:NNN) Given Average Recommendation of "Reduce" by Analysts

Key Points

• NNN REIT, Inc. has received a consensus rating of “Reduce” from analysts, with two sell ratings, ten holds, and one buy rating.
• The company recently reported earnings of $0.85 per share, beating analysts' expectations, with a revenue increase of 4.6% year-over-year.
• NNN REIT has increased its quarterly dividend to $0.60, up from $0.58, representing an annualized dividend of $2.40 with a yield of 5.6%.

NNN REIT, Inc. (NYSE:NNN - Get Free Report) has received a consensus rating of "Reduce" from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $44.3333.

NNN has been the subject of several analyst reports. Barclays downgraded shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, July 22nd. Evercore ISI raised their price objective on shares of NNN REIT from $44.00 to $46.00 and gave the stock an "in-line" rating in a report on Monday. Wells Fargo & Company cut their price objective on shares of NNN REIT from $44.00 to $43.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Finally, UBS Group raised their price objective on shares of NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, August 15th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NNN. GAMMA Investing LLC boosted its holdings 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 during the period. Sound Income Strategies LLC boosted its holdings in NNN REIT by 11.4% in the 1st quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust's stock valued at $16,401,000 after purchasing an additional 39,289 shares during the period. Adams Asset Advisors LLC boosted its holdings in NNN REIT by 119.0% in the 2nd quarter. Adams Asset Advisors LLC now owns 40,766 shares of the real estate investment trust's stock valued at $1,760,000 after purchasing an additional 22,155 shares during the period. Allstate Corp boosted its holdings in NNN REIT by 159.5% in the 1st quarter. Allstate Corp now owns 25,510 shares of the real estate investment trust's stock valued at $1,088,000 after purchasing an additional 15,678 shares during the period. Finally, Graypoint LLC bought a new position in NNN REIT in the 1st quarter valued at $450,000. 89.96% of the stock is owned by institutional investors.

NNN REIT Stock Performance

Shares of NNN REIT stock traded down $0.29 on Friday, reaching $42.28. 1,022,614 shares of the company traded hands, compared to its average volume of 1,178,125. NNN REIT has a 52 week low of $35.80 and a 52 week high of $49.57. The company has a 50 day moving average of $42.41 and a 200 day moving average of $41.99. The firm has a market capitalization of $7.98 billion, a PE ratio of 20.13, a PEG ratio of 3.87 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40.

NNN REIT (NYSE:NNN - Get Free Report) last released its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.01. The firm had revenue of $226.80 million during the quarter, compared to the consensus estimate of $224.26 million. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The company's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. Equities analysts forecast that NNN REIT will post 3.33 earnings per share for the current year.

NNN REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a $0.60 dividend. This is a boost from NNN REIT's previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.40 annualized dividend and a yield of 5.7%. NNN REIT's payout ratio is 114.29%.

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.