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

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) have been given a consensus recommendation of "Hold" by the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $44.54.

A number of analysts have recently issued reports on the stock. Janney Montgomery Scott lowered shares of NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 price target for the company. in a research report on Wednesday, January 15th. Barclays boosted their price target 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. B. Riley restated a "neutral" rating and issued a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Wells Fargo & Company raised their price target on NNN REIT from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Morgan Stanley raised shares of NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 price objective on the stock in a research report on Wednesday, January 15th.

NNN REIT Stock Down 0.9 %

Shares of NNN REIT stock traded down $0.37 during midday trading on Thursday, hitting $41.26. The company's stock had a trading volume of 1,041,769 shares, compared to its average volume of 1,185,937. The firm has a market capitalization of $7.76 billion, a P/E ratio of 19.19, a PEG ratio of 2.06 and a beta of 0.85. NNN REIT has a 1-year low of $35.80 and a 1-year high of $49.57. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. The stock has a 50-day simple moving average of $41.39 and a 200-day simple moving average of $42.09.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.62%. NNN REIT's dividend payout ratio (DPR) is presently 107.91%.

Hedge Funds Weigh In On NNN REIT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its position in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 305 shares during the last quarter. Steph & Co. raised its holdings in NNN REIT by 8.2% in the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust's stock valued at $231,000 after acquiring an additional 429 shares in the last quarter. DGS Capital Management LLC lifted its position in shares of NNN REIT by 9.5% in the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust's stock worth $218,000 after acquiring an additional 461 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of NNN REIT by 25.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust's stock worth $114,000 after purchasing an additional 546 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of 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 purchasing an additional 628 shares during the period. Institutional investors own 89.96% of the company's stock.

NNN REIT Company Profile

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.