NNN REIT, Inc. (NYSE:NNN) Given Consensus Rating 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%.

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) have been given an average recommendation of "Reduce" by the thirteen brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $44.1667.

A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased 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. Evercore ISI lifted their target price on shares of NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Barclays downgraded shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, July 22nd. Finally, UBS Group lifted their target price on shares of NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th.

NNN REIT Stock Down 0.5%

NNN opened at $43.07 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The company's 50-day moving average is $42.45 and its 200 day moving average is $41.98. NNN REIT has a fifty-two week low of $35.80 and a fifty-two week high of $49.57. The firm has a market capitalization of $8.13 billion, a P/E ratio of 20.51, a PEG ratio of 3.94 and a beta of 0.95.

NNN REIT (NYSE:NNN - Get Free Report) last released its quarterly 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. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The company had revenue of $226.80 million for the quarter, compared to analyst estimates of $224.26 million. During the same period last year, the firm earned $0.84 earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. Research analysts expect that NNN REIT will post 3.33 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a $0.60 dividend. The ex-dividend date was Thursday, July 31st. This is a positive change from NNN REIT's previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 5.6%. NNN REIT's dividend payout ratio is 114.29%.

Hedge Funds Weigh In On NNN REIT

Several large investors have recently modified their holdings of the business. Red Spruce Capital LLC grew its stake in NNN REIT by 0.7% during the second quarter. Red Spruce Capital LLC now owns 48,252 shares of the real estate investment trust's stock valued at $2,084,000 after acquiring an additional 345 shares in the last quarter. Strengthening Families & Communities LLC grew its stake in NNN REIT by 19.5% during the first quarter. Strengthening Families & Communities LLC now owns 2,283 shares of the real estate investment trust's stock valued at $97,000 after acquiring an additional 372 shares in the last quarter. Brooklyn Investment Group grew its stake in NNN REIT by 140.8% during the first quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 469 shares in the last quarter. Farther Finance Advisors LLC grew its stake in NNN REIT by 25.6% during the first quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust's stock valued at $114,000 after acquiring an additional 546 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in NNN REIT by 10.6% during the first quarter. Parallel Advisors LLC now owns 6,566 shares of the real estate investment trust's stock valued at $280,000 after acquiring an additional 628 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

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.

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