Brokerages Set NNN REIT, Inc. (NYSE:NNN) Target Price at $45.50

NNN REIT, Inc. (NYSE:NNN) has been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $45.35.

Several research analysts have recently issued reports on NNN shares. Jefferies Financial Group downgraded shares of NNN REIT from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $52.00 to $43.00 in a report on Thursday, January 2nd. Royal Bank of Canada reduced their price objective on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective on the stock. in a research report on Monday, November 4th. B. Riley cut their target price on NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, Janney Montgomery Scott downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Wednesday, January 15th.

Insider Transactions at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the sale, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by company insiders.

Institutional Trading of NNN REIT

Several large investors have recently made changes to their positions in the business. Sound Income Strategies LLC lifted its position in NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock worth $14,104,000 after buying an additional 30,146 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of NNN REIT in the fourth quarter worth about $206,000. SG Americas Securities LLC lifted its position in shares of NNN REIT by 3,469.0% during the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock worth $3,729,000 after purchasing an additional 88,736 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of NNN REIT during the fourth quarter valued at approximately $527,000. Finally, Red Spruce Capital LLC increased its holdings in shares of NNN REIT by 16.9% in the fourth quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock valued at $1,775,000 after purchasing an additional 6,289 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Trading Up 0.0 %

Shares of NNN REIT stock opened at $38.94 on Friday. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.97 and a beta of 1.11. NNN REIT has a 1 year low of $37.55 and a 1 year high of $49.57. The company’s fifty day simple moving average is $40.69 and its 200-day simple moving average is $44.34. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00.

NNN REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, January 31st. NNN REIT’s payout ratio is 107.41%.

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.