NNN REIT, Inc. (NYSE:NNN) Receives Consensus Rating 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 currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $44.46.

NNN has been the topic of several analyst reports. UBS Group lowered their target price on NNN REIT from $44.00 to $43.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. B. Riley reiterated a "neutral" rating and issued a $43.00 target price (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Barclays lowered their target price on NNN REIT from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Wells Fargo & Company lifted their target price on NNN REIT from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Finally, Royal Bank of Canada reduced their price target on NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a report on Wednesday, February 12th.

NNN REIT Stock Up 1.3%

NNN stock traded up $0.56 during mid-day trading on Friday, reaching $42.25. The company had a trading volume of 1,332,245 shares, compared to its average volume of 1,185,167. 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 market capitalization of $7.94 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92. The firm has a fifty day simple moving average of $41.03 and a 200 day simple moving average of $41.14. NNN REIT has a fifty-two week low of $35.80 and a fifty-two week high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $230.85 million for 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 revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. Analysts forecast that NNN REIT will post 3.33 earnings per share for the current fiscal year.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Wednesday, April 30th. NNN REIT's payout ratio is 108.41%.

Institutional Investors Weigh In On NNN REIT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC boosted its position in shares of NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock worth $41,000 after buying an additional 305 shares during the period. Strengthening Families & Communities LLC boosted its position in shares of 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 worth $97,000 after buying an additional 372 shares during the period. Brooklyn Investment Group boosted its position in shares of NNN REIT by 140.8% in the first quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock worth $34,000 after buying an additional 469 shares during the period. Farther Finance Advisors LLC boosted its position in shares of NNN REIT by 25.6% in the first quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust's stock worth $114,000 after buying an additional 546 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in NNN REIT by 10.6% in 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 last quarter. Hedge funds and other 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.