NNN REIT, Inc. (NYSE:NNN) Receives Consensus Rating of "Hold" from Brokerages

NNN REIT, Inc. (NYSE:NNN - Get Free Report) has been given a consensus rating of "Hold" by the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $46.29.

NNN has been the topic of a number of recent analyst reports. UBS Group lowered their target price on shares of NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday. StockNews.com cut shares of NNN REIT from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Colliers Securities cut shares of NNN REIT from a "buy" rating to a "neutral" rating in a research report on Friday, November 1st. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. Finally, Raymond James lifted their price objective on shares of NNN REIT from $47.00 to $48.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 21st.

Institutional Investors Weigh In On NNN REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. increased its holdings in NNN REIT by 1.8% during the second quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust's stock valued at $568,000 after buying an additional 240 shares during the last quarter. Farther Finance Advisors LLC increased its position in 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 valued at $110,000 after purchasing an additional 280 shares during the period. GAMMA Investing LLC grew its position in shares of NNN REIT by 23.8% in the 3rd 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. LRI Investments LLC purchased a new position in shares of NNN REIT in the 1st quarter worth approximately $34,000. Finally, Bruce G. Allen Investments LLC boosted its stake in NNN REIT by 1,276.8% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,047 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

NNN REIT Trading Up 1.6 %

NNN REIT stock traded up $0.69 during midday trading on Monday, hitting $42.89. 986,446 shares of the stock were exchanged, compared to its average volume of 1,171,517. The company has a fifty day simple moving average of $46.73 and a two-hundred day simple moving average of $44.91. NNN REIT has a 52 week low of $38.49 and a 52 week high of $49.57. The stock has a market capitalization of $8.04 billion, a PE ratio of 19.54, a P/E/G ratio of 2.13 and a beta of 1.10. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Thursday, October 31st. NNN REIT's dividend payout ratio is currently 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.