NNN REIT (NYSE:NNN) Stock Rating Upgraded by BNP Paribas

BNP Paribas upgraded shares of NNN REIT (NYSE:NNN) from an underperform rating to a neutral rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has $42.00 target price on the real estate investment trust’s stock.

NNN REIT Stock Performance

NNN REIT stock opened at $41.80 on Thursday. The company has a quick ratio of 1.26, a current ratio of 0.52 and a debt-to-equity ratio of 1.04. NNN REIT has a twelve month low of $34.38 and a twelve month high of $44.96. The company’s 50-day moving average price is $41.40 and its 200-day moving average price is $40.77. The company has a market cap of $7.66 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 4.86 and a beta of 1.00.

NNN REIT Announces Dividend

The company 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. The ex-dividend date is Monday, April 29th. This represents a $2.26 annualized dividend and a dividend yield of 5.41%. NNN REIT’s dividend payout ratio (DPR) is presently 103.67%.

Hedge Funds Weigh In On NNN REIT

Hedge funds have recently added to or reduced their stakes in the company. Essex Financial Services Inc. raised its position in NNN REIT by 16.3% during the 1st quarter. Essex Financial Services Inc. now owns 14,836 shares of the real estate investment trust’s stock valued at $634,000 after purchasing an additional 2,081 shares in the last quarter. DGS Capital Management LLC bought a new stake in shares of NNN REIT in the first quarter valued at about $212,000. Sound Income Strategies LLC lifted its stake in NNN REIT by 96,000.0% in the first quarter. Sound Income Strategies LLC now owns 48,050 shares of the real estate investment trust’s stock worth $2,054,000 after acquiring an additional 48,000 shares during the period. Riverview Trust Co purchased a new stake in NNN REIT in the first quarter worth about $43,000. Finally, Steph & Co. bought a new position in NNN REIT during the 1st quarter worth about $170,000. 89.96% of the stock is currently owned by 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.