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

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) have earned an average recommendation of "Hold" from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $45.85.

Several brokerages recently weighed in on NNN. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. BNP Paribas downgraded shares of NNN REIT from a "neutral" rating to an "underperform" rating and set a $44.00 price target for the company. in a report on Monday, November 4th. Robert W. Baird lifted their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Jefferies Financial Group lowered shares of NNN REIT from a "buy" rating to a "hold" rating and cut their target price for the company from $52.00 to $43.00 in a research note on Thursday, January 2nd. Finally, UBS Group decreased their price target on shares of NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th.

NNN REIT Stock Performance

Shares of NNN traded down $0.80 during trading hours on Tuesday, reaching $38.77. 1,915,529 shares of the company's stock traded hands, compared to its average volume of 1,142,682. NNN REIT has a twelve month low of $38.55 and a twelve month high of $49.57. The business's fifty day simple moving average is $42.24 and its two-hundred day simple moving average is $44.92. 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 firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.17 and a beta of 1.11.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.98%. NNN REIT's dividend payout ratio is 107.41%.

Insider Activity at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction on Tuesday, December 10th. The shares were 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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by insiders.

Institutional Trading of NNN REIT

Hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank increased its position in NNN REIT by 4.1% in the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust's stock worth $4,420,000 after purchasing an additional 4,088 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in NNN REIT by 32.9% in the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust's stock worth $243,000 after buying an additional 1,414 shares during the last quarter. Handelsbanken Fonder AB raised its position in NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust's stock valued at $2,531,000 after acquiring an additional 15,100 shares in the last quarter. GAMMA Investing LLC raised its position in 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 valued at $140,000 after acquiring an additional 553 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its stake in NNN REIT by 19.0% in the third quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust's stock valued at $15,280,000 after acquiring an additional 50,213 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.