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

Shares of NNN REIT, Inc. (NYSE:NNN) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $46.17.

NNN has been the topic of several analyst reports. BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of NNN REIT in a research report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price target on the stock. StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada cut their target price on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Finally, B. Riley reduced their price target on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a research report on Wednesday, December 4th.

Insider Activity

In other news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction that occurred 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 sale, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. DGS Capital Management LLC acquired a new position in shares of NNN REIT during the 3rd quarter worth about $236,000. Goodman Financial Corp raised its holdings in NNN REIT by 1.2% during the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock worth $14,065,000 after acquiring an additional 3,388 shares in the last quarter. Strengthening Families & Communities LLC boosted its position in NNN REIT by 7.1% during the third quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after purchasing an additional 4,170 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in NNN REIT by 17.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after purchasing an additional 28,476 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of NNN REIT by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Performance

NNN stock opened at $39.77 on Friday. NNN REIT has a twelve month low of $38.88 and a twelve month high of $49.57. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The company has a market cap of $7.46 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The business’s fifty day moving average is $44.22 and its 200-day moving average is $45.04.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.83%. The ex-dividend date was Thursday, October 31st. NNN REIT’s dividend payout ratio is 107.41%.

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.