NNN REIT, Inc. (NYSE:NNN) Given Consensus Rating of "Hold" by Analysts

NNN REIT, Inc. (NYSE:NNN - Get Free Report) has been given a consensus rating of "Hold" by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $47.33.

A number of research analysts have recently issued reports on the company. B. Riley boosted their price objective on NNN REIT from $42.50 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. UBS Group boosted their price objective on NNN REIT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Wells Fargo & Company reissued an "equal weight" rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. StockNews.com raised NNN REIT from a "hold" rating to a "buy" rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada upped their price target on NNN REIT from $43.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd.

NNN REIT Trading Down 1.1 %

Shares of NYSE NNN traded down $0.53 during trading on Thursday, reaching $47.82. The company had a trading volume of 747,008 shares, compared to its average volume of 1,146,030. The company's fifty day moving average price is $47.73 and its 200-day moving average price is $44.51. NNN REIT has a 12 month low of $34.61 and a 12 month high of $49.57. The stock has a market cap of $8.77 billion, a P/E ratio of 22.17, a PEG ratio of 3.79 and a beta of 1.09. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.24). The business had revenue of $216.81 million during the quarter, compared to analyst estimates of $212.30 million. NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. As a group, research analysts expect that NNN REIT will post 3.3 earnings per share for the current year.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Thursday, October 31st. NNN REIT's dividend payout ratio (DPR) is presently 106.42%.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the sale, the executive vice president now directly owns 69,756 shares of the company's stock, valued at $3,270,161.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On NNN REIT

Several institutional investors have recently modified their holdings of the business. Sound Income Strategies LLC grew its holdings in shares of 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 in the last quarter. Amalgamated Bank grew its holdings in shares of 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. SG Americas Securities LLC grew its holdings in shares of NNN REIT by 95.5% in the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust's stock valued at $2,724,000 after acquiring an additional 31,141 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of NNN REIT by 40.7% in 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. Finally, Nicholas Hoffman & Company LLC. grew its holdings in shares of 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. 89.96% of the stock is owned by institutional investors.

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.