Analysts Set NNN REIT, Inc. (NYSE:NNN) Target Price at $44.50

NNN REIT, Inc. (NYSE:NNN - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $44.50.

Separately, BNP Paribas raised NNN REIT from an "underperform" rating to a "neutral" rating and set a $42.00 price objective for the company in a research note on Thursday.

Hedge Funds Weigh In On NNN REIT

Institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC grew its holdings in shares of NNN REIT by 77.0% in the fourth quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 328 shares in the last quarter. First United Bank & Trust bought a new position in shares of NNN REIT in the fourth quarter valued at approximately $39,000. GAMMA Investing LLC bought a new position in NNN REIT during the fourth quarter valued at $39,000. Riverview Trust Co purchased a new stake in NNN REIT in the first quarter worth $43,000. Finally, EverSource Wealth Advisors LLC increased its position in NNN REIT by 1,703.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,731 shares of the real estate investment trust's stock worth $75,000 after buying an additional 1,635 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

NNN REIT Stock Up 2.2 %

Shares of NNN REIT stock traded up $0.89 on Thursday, hitting $41.58. The company had a trading volume of 1,692,999 shares, compared to its average volume of 1,425,303. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 4.71 and a beta of 1.00. NNN REIT has a 1 year low of $34.38 and a 1 year high of $44.96. The stock has a 50 day moving average of $41.39 and a 200-day moving average of $40.70. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.26 and a current ratio of 1.26.

NNN REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.565 dividend. This represents a $2.26 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Monday, April 29th. NNN REIT's dividend payout ratio is presently 104.63%.

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.