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

NNN REIT, Inc. (NYSE:NNN - Get Free Report) has received a consensus rating of "Hold" from the six research firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $45.50.

NNN has been the subject of a number of research analyst reports. StockNews.com raised shares of NNN REIT from a "hold" rating to a "buy" rating in a report on Friday, August 2nd. B. Riley lifted their price target on NNN REIT from $42.50 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price objective on NNN REIT from $43.00 to $46.00 and gave the company a "sector perform" rating in a research report on Friday, August 2nd. Raymond James raised their price objective on NNN REIT from $47.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, August 21st. Finally, UBS Group upped their target price on NNN REIT from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, July 18th.

Insider Activity at NNN REIT

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the transaction, the executive vice president now directly owns 69,756 shares in the company, valued at approximately $3,270,161.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NNN REIT

A number of large investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its position in shares of NNN REIT by 32.9% in the 2nd 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. Amalgamated Bank boosted its holdings in NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust's stock valued at $4,420,000 after acquiring an additional 4,088 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in NNN REIT by 1.8% in 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 acquiring an additional 240 shares in the last quarter. Raymond James Trust N.A. increased its position in NNN REIT by 19.6% during the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust's stock valued at $550,000 after purchasing an additional 2,120 shares during the period. Finally, LRI Investments LLC raised its holdings in NNN REIT by 100.6% in the 2nd quarter. LRI Investments LLC now owns 1,613 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 809 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

NNN REIT Price Performance

NYSE NNN traded up $0.14 during trading on Friday, reaching $48.15. The company's stock had a trading volume of 595,081 shares, compared to its average volume of 1,174,773. The firm has a fifty day moving average of $46.89 and a 200 day moving average of $43.73. NNN REIT has a one year low of $34.38 and a one year high of $49.10. The stock has a market capitalization of $8.83 billion, a PE ratio of 22.09, a P/E/G ratio of 3.84 and a beta of 1.09. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The company had revenue of $216.81 million during the quarter, compared to the consensus estimate of $212.30 million. During the same quarter last year, the company posted $0.80 earnings per share. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that NNN REIT will post 3.3 EPS for the current fiscal year.

NNN REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Wednesday, July 31st. This is a positive change from NNN REIT's previous quarterly dividend of $0.57. NNN REIT's payout ratio is 106.42%.

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.