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

NNN REIT, Inc. (NYSE:NNN - Get Free Report) has been assigned an average recommendation of "Hold" from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $45.35.

NNN has been the subject of several recent research reports. Jefferies Financial Group cut NNN REIT from a "buy" rating to a "hold" rating and reduced their price target for the company from $52.00 to $43.00 in a research report on Thursday, January 2nd. Janney Montgomery Scott lowered NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 price objective for the company. in a research note on Wednesday, January 15th. StockNews.com lowered shares of NNN REIT from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Morgan Stanley upgraded NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 price target on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada cut their target price on NNN REIT from $48.00 to $45.00 and set a "sector perform" rating for the company in a research note on Friday, November 1st.

NNN REIT Stock Down 0.6 %

NYSE NNN traded down $0.24 during midday trading on Friday, hitting $38.91. 689,597 shares of the company traded hands, compared to its average volume of 983,804. NNN REIT has a 52 week low of $37.55 and a 52 week high of $49.57. The company's 50-day simple moving average is $40.80 and its 200-day simple moving average is $44.38. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. The company has a market cap of $7.30 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.32 annualized dividend and a yield of 5.96%. NNN REIT's dividend payout ratio (DPR) is presently 107.41%.

Insiders Place Their Bets

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now owns 68,756 shares in the company, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.80% of the company's stock.

Institutional Trading of NNN REIT

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust's stock valued at $110,000 after acquiring an additional 280 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of NNN REIT by 23.8% during the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust's stock worth $140,000 after buying an additional 553 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of NNN REIT in the 4th quarter valued at $206,000. DGS Capital Management LLC grew its position in shares of NNN REIT by 9.5% during the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust's stock worth $218,000 after buying an additional 461 shares during the period. Finally, Steph & Co. increased its stake in NNN REIT by 8.2% in the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 429 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

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.