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

NNN REIT, Inc. (NYSE:NNN) has earned a consensus rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers 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 target on the stock in a research report on Thursday, May 2nd.

Institutional Trading of NNN REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in NNN REIT by 77.0% during the 4th quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 328 shares during the period. First United Bank & Trust purchased a new stake in NNN REIT in the 4th quarter worth $39,000. GAMMA Investing LLC acquired a new position in NNN REIT during the fourth quarter worth $39,000. Riverview Trust Co purchased a new position in NNN REIT during the first quarter valued at $43,000. Finally, Essex Financial Services Inc. grew its position in shares of NNN REIT by 9.3% in the fourth quarter. Essex Financial Services Inc. now owns 12,755 shares of the real estate investment trust’s stock valued at $550,000 after purchasing an additional 1,080 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Stock Down 1.7 %

Shares of NYSE NNN opened at $41.72 on Thursday. The stock has a 50 day moving average price of $41.48 and a 200 day moving average price of $40.91. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 4.86 and a beta of 1.00. NNN REIT has a 52-week low of $34.38 and a 52-week high of $44.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.52 and a current ratio of 0.52.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.565 dividend. This represents a $2.26 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Monday, April 29th. NNN REIT’s payout ratio is currently 103.67%.

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.