Brokerages Set NNN REIT, Inc. (NYSE:NNN) Price Target at $44.54

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) have earned an average rating of "Hold" from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $44.54.

Several equities research analysts have commented on the stock. B. Riley restated a "neutral" rating and issued a $43.00 price target (down previously from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Evercore ISI started coverage on shares of NNN REIT in a report on Friday, January 31st. They issued an "inline" rating and a $42.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of NNN REIT from $41.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Royal Bank of Canada decreased their price objective on shares of NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a report on Wednesday, February 12th. Finally, Barclays increased their price objective on shares of NNN REIT from $46.00 to $47.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th.

NNN REIT Stock Performance

NNN traded up $0.40 on Monday, hitting $41.88. 94,667 shares of the company's stock were exchanged, compared to its average volume of 1,170,071. The firm has a market cap of $7.87 billion, a PE ratio of 19.48, a P/E/G ratio of 2.06 and a beta of 0.92. NNN REIT has a twelve month low of $35.80 and a twelve month high of $49.57. The stock has a fifty day moving average of $41.19 and a two-hundred day moving average of $41.35. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00.

NNN REIT (NYSE:NNN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. NNN REIT had a net margin of 45.65% and a return on equity of 9.28%. The firm had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. NNN REIT's quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts anticipate that NNN REIT will post 3.33 earnings per share for the current fiscal year.

NNN REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a $0.58 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.32 dividend on an annualized basis and a yield of 5.54%. NNN REIT's payout ratio is currently 108.41%.

Institutional Trading of NNN REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allstate Corp increased its stake in NNN REIT by 159.5% in the first quarter. Allstate Corp now owns 25,510 shares of the real estate investment trust's stock valued at $1,088,000 after acquiring an additional 15,678 shares during the period. Brooklyn Investment Group boosted its position in NNN REIT by 140.8% in the first quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 469 shares in the last quarter. Strengthening Families & Communities LLC boosted its position in NNN REIT by 19.5% in 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 buying an additional 372 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in NNN REIT by 16.2% in the first quarter. Pathway Financial Advisers LLC now owns 14,923 shares of the real estate investment trust's stock valued at $636,000 after buying an additional 2,083 shares in the last quarter. Finally, Goodman Financial Corp boosted its position in NNN REIT by 3.3% in the first quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust's stock valued at $13,173,000 after buying an additional 9,755 shares in the last quarter. 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.