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

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) have received an average rating of "Hold" from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $44.46.

A number of research firms have recently weighed in on NNN. B. Riley reissued a "neutral" rating and set a $43.00 target price (down from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. Barclays reduced their target price on shares of NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Wells Fargo & Company increased their target price on shares of NNN REIT from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Royal Bank of Canada reduced their target price on shares of NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 12th. Finally, UBS Group reduced their target price on shares of NNN REIT from $44.00 to $43.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th.

NNN REIT Trading Down 0.3%

Shares of NNN stock opened at $41.29 on Friday. NNN REIT has a 52-week low of $35.80 and a 52-week high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. The company has a 50-day simple moving average of $41.05 and a two-hundred day simple moving average of $41.19. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.06 and a beta of 0.92.

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

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend was Wednesday, April 30th. NNN REIT's dividend payout ratio is presently 108.41%.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently bought and sold shares of NNN. Brooklyn Investment Group raised its position in shares of NNN REIT by 140.8% during the 1st 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. Putney Financial Group LLC purchased a new stake in shares of NNN REIT during the 4th quarter valued at $38,000. Lindbrook Capital LLC raised its position in shares of NNN REIT by 43.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 305 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of NNN REIT during the 4th quarter valued at $42,000. Finally, Inlight Wealth Management LLC purchased a new position in NNN REIT in the 1st quarter worth $57,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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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