Brokerages Set NNN REIT, Inc. (NYSE:NNN) Price Target at $44.54

NNN REIT, Inc. (NYSE:NNN - Get Free Report) has received an average recommendation of "Hold" from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $44.54.

A number of analysts have issued reports on the company. Barclays lifted their price target on NNN REIT from $46.00 to $47.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Wells Fargo & Company upped their price target on NNN REIT from $41.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Royal Bank of Canada reduced their price objective on shares of NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT in a report on Wednesday, December 11th. They issued a "hold" rating and a $46.00 target price for the company. Finally, B. Riley reissued a "neutral" rating and issued a $43.00 price target (down from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th.

NNN REIT Stock Up 1.4 %

Shares of NNN traded up $0.58 during midday trading on Friday, reaching $41.94. The stock had a trading volume of 1,101,911 shares, compared to its average volume of 1,312,346. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 2.06 and a beta of 1.10. The company's fifty day simple moving average is $40.92 and its two-hundred day simple moving average is $43.18. NNN REIT has a 1-year low of $37.55 and a 1-year high of $49.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55.

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NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.58 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.53%. NNN REIT's dividend payout ratio (DPR) is currently 107.91%.

Institutional Investors Weigh In On NNN REIT

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in NNN REIT by 3,469.0% in the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust's stock valued at $3,729,000 after buying an additional 88,736 shares during the period. Sound Income Strategies LLC raised its holdings in NNN REIT by 9.6% during the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust's stock worth $14,104,000 after purchasing an additional 30,146 shares in the last quarter. Pinebridge Investments L.P. lifted its position in NNN REIT by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust's stock valued at $2,028,000 after purchasing an additional 14,850 shares during the period. Tudor Investment Corp ET AL purchased a new stake in NNN REIT in the 4th quarter valued at approximately $593,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in NNN REIT during the 4th quarter worth approximately $527,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

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.