NNN REIT, Inc. (NYSE:NNN) Given Average Rating of “Hold” by Analysts

Shares of NNN REIT, Inc. (NYSE:NNN) have been given an average rating of “Hold” by the thirteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $44.92.

NNN has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada dropped their target price on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. Janney Montgomery Scott downgraded NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft initiated coverage on NNN REIT in a research report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective for the company. Finally, Robert W. Baird upped their target price on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, November 4th.

Insider Activity

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in NNN REIT by 3,469.0% during the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after purchasing an additional 88,736 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 9.6% during the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after buying an additional 30,146 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in NNN REIT by 17.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after buying an additional 28,476 shares in the last quarter. Pinebridge Investments L.P. grew its holdings in NNN REIT by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust’s stock worth $2,028,000 after buying an additional 14,850 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in NNN REIT in the 4th quarter valued at $593,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Price Performance

NNN REIT stock opened at $42.81 on Wednesday. The stock’s 50 day moving average is $40.00 and its 200 day moving average is $43.79. NNN REIT has a one year low of $37.55 and a one year high of $49.57. The firm has a market cap of $8.03 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.06 and a beta of 1.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 annualized dividend and a yield of 5.42%. NNN REIT’s payout ratio is currently 107.91%.

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.