NNN REIT, Inc. (NYSE:NNN) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) have earned a consensus rating of "Hold" from the fourteen ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $44.62.

NNN has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on NNN REIT from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. UBS Group cut their target price on NNN REIT from $44.00 to $43.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Barclays decreased their price target on NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Finally, Evercore ISI boosted their price objective on NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a report on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC lifted its position 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 worth $16,401,000 after buying an additional 39,289 shares in the last quarter. Goodman Financial Corp increased its stake in shares of 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 worth $13,173,000 after acquiring an additional 9,755 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of NNN REIT by 3,301.7% during the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock worth $4,186,000 after acquiring an additional 95,253 shares in the last quarter. Cibc World Markets Corp boosted its position in NNN REIT by 12.4% during the fourth quarter. Cibc World Markets Corp now owns 54,572 shares of the real estate investment trust's stock valued at $2,229,000 after purchasing an additional 6,035 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its position in NNN REIT by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust's stock valued at $2,028,000 after purchasing an additional 14,850 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

NNN REIT Price Performance

NNN stock traded down $0.17 during trading hours on Tuesday, hitting $43.51. 866,390 shares of the stock traded hands, compared to its average volume of 1,206,010. The stock has a 50-day simple moving average of $41.98 and a 200 day simple moving average of $41.12. The company has a market cap of $8.18 billion, a P/E ratio of 20.33, a P/E/G ratio of 4.10 and a beta of 0.92. NNN REIT has a one year low of $35.80 and a one year high of $49.57. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.03.

NNN REIT (NYSE:NNN - Get Free Report) last posted 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. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The company had revenue of $230.85 million during the quarter, compared to analyst estimates of $219.68 million. During the same quarter last year, the firm posted $0.84 EPS. The business's revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts forecast that NNN REIT will post 3.33 earnings per share for the current year.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Wednesday, April 30th. NNN REIT's dividend payout ratio is currently 108.41%.

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.