NNN REIT, Inc. (NYSE:NNN) Receives $44.46 Average Target Price from Analysts

Shares of NNN REIT, Inc. (NYSE:NNN) have been given a consensus rating of “Hold” by the fourteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $44.62.

NNN has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the company an “in-line” rating in a research report on Wednesday. Barclays lowered their price target on shares of NNN REIT from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 21st. Wells Fargo & Company upped their price target on shares of 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, UBS Group reduced their price objective on NNN REIT from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th.

Institutional Investors Weigh In On NNN REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its stake in 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 purchasing an additional 305 shares during the last quarter. Strengthening Families & Communities LLC grew its position in NNN REIT by 19.5% in the 1st quarter. Strengthening Families & Communities LLC now owns 2,283 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 372 shares during the last quarter. Brooklyn Investment Group increased its holdings 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 worth $34,000 after purchasing an additional 469 shares during the period. Farther Finance Advisors LLC raised its position in shares of NNN REIT by 25.6% during the first quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 546 shares during the last quarter. Finally, Parallel Advisors LLC raised 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 buying an additional 628 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Price Performance

Shares of NNN REIT stock opened at $43.51 on Tuesday. NNN REIT has a 52 week low of $35.80 and a 52 week high of $49.57. The stock has a market cap of $8.18 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 4.10 and a beta of 0.92. The company’s 50-day moving average price is $41.98 and its two-hundred day moving average price is $41.12. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.03.

NNN REIT (NYSE:NNN) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. NNN REIT had a return on equity of 9.23% and a net margin of 45.09%. The firm had revenue of $230.85 million for the quarter, compared to the consensus estimate of $219.68 million. During the same quarter in the previous year, the company earned $0.84 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that NNN REIT will post 3.33 EPS for the current fiscal year.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend was Wednesday, April 30th. NNN REIT’s dividend payout ratio is 108.41%.

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.