NNN REIT, Inc. (NYSE:NNN) Receives Average Recommendation of "Hold" from Analysts

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $44.54.

Several analysts recently weighed in on the company. Morgan Stanley raised NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 price objective for the company in a report on Wednesday, January 15th. Evercore ISI initiated coverage on NNN REIT in a research report on Friday, January 31st. They set an "inline" rating and a $42.00 price target on the stock. Barclays increased their price target on NNN REIT from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. B. Riley reiterated a "neutral" rating and set a $43.00 price target (down from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. Finally, Janney Montgomery Scott cut NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a research report on Wednesday, January 15th.

NNN REIT Stock Down 1.6%

Shares of NYSE:NNN traded down $0.66 during trading on Monday, hitting $40.84. The company's stock had a trading volume of 896,542 shares, compared to its average volume of 1,176,321. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. NNN REIT has a fifty-two week low of $35.80 and a fifty-two week high of $49.57. The stock's 50-day moving average price is $41.27 and its two-hundred day moving average price is $41.39. The company has a market capitalization of $7.68 billion, a PE ratio of 19.00, a PEG ratio of 2.06 and a beta of 0.92.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $230.85 million during the quarter, compared to analyst estimates of $219.68 million. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. NNN REIT's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. As a group, sell-side analysts expect that NNN REIT will post 3.33 EPS for the current year.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.68%. NNN REIT's dividend payout ratio (DPR) is presently 108.41%.

Institutional Investors Weigh In On NNN REIT

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC lifted its holdings in shares of NNN REIT by 9.6% in the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust's stock valued at $14,104,000 after purchasing an additional 30,146 shares in the last quarter. Goodman Financial Corp lifted its holdings in shares of NNN REIT by 3.1% in the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust's stock valued at $12,219,000 after purchasing an additional 9,054 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of NNN REIT by 3,469.0% in the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust's stock valued at $3,729,000 after purchasing an additional 88,736 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of NNN REIT in the fourth quarter valued at $527,000. Finally, Red Spruce Capital LLC lifted its holdings in shares of NNN REIT by 16.9% in the fourth quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust's stock valued at $1,775,000 after purchasing an additional 6,289 shares in the last quarter. Institutional investors and hedge funds 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.