NNN REIT, Inc. (NYSE:NNN) Receives Average Recommendation of “Hold” from Brokerages

NNN REIT, Inc. (NYSE:NNN) has earned a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $46.83.

A number of brokerages recently issued reports on NNN. UBS Group boosted their price target on NNN REIT from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. B. Riley lifted their price target on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Raymond James upped their price objective on shares of NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada raised their target price on shares of NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd.

Insider Activity

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the transaction, the executive vice president now directly owns 69,756 shares in the company, valued at $3,270,161.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NNN. Handelsbanken Fonder AB increased its holdings in shares of NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after acquiring an additional 15,100 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in NNN REIT by 32.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 1,414 shares in the last quarter. Amalgamated Bank raised its holdings in NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock worth $4,420,000 after buying an additional 4,088 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in NNN REIT by 1.8% in the second quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 240 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of NNN REIT by 19.6% in the second quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock worth $550,000 after buying an additional 2,120 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Trading Down 1.0 %

NYSE NNN opened at $47.89 on Friday. The stock has a 50-day moving average of $47.17 and a 200-day moving average of $43.95. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. NNN REIT has a 1-year low of $34.46 and a 1-year high of $49.10. The firm has a market cap of $8.78 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 3.84 and a beta of 1.09.

NNN REIT (NYSE:NNN) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.24). The firm had revenue of $216.81 million during the quarter, compared to the consensus estimate of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. As a group, sell-side analysts forecast that NNN REIT will post 3.3 EPS for the current year.

NNN REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.32 annualized dividend and a yield of 4.84%. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. NNN REIT’s dividend payout ratio (DPR) is currently 106.42%.

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.