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

NNN REIT, Inc. (NYSE:NNN) has earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $44.54.

A number of analysts recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 price objective for the company. B. Riley reissued a “neutral” rating and issued a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Finally, Evercore ISI began coverage on NNN REIT in a research note on Friday, January 31st. They set an “inline” rating and a $42.00 price target for the company.

NNN REIT Price Performance

NNN REIT stock opened at $42.06 on Friday. The company has a market cap of $7.91 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. NNN REIT has a one year low of $37.55 and a one year high of $49.57. The business has a fifty day moving average of $41.06 and a two-hundred day moving average of $43.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55.

NNN REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is 107.91%.

Hedge Funds Weigh In On NNN REIT

Large investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its stake in shares of NNN REIT by 43.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 305 shares during the last quarter. Steph & Co. increased its position in NNN REIT by 8.2% during the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 429 shares during the last quarter. DGS Capital Management LLC raised its stake in NNN REIT by 9.5% during the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock worth $218,000 after purchasing an additional 461 shares during the period. Putney Financial Group LLC acquired a new position in shares of NNN REIT in the 4th quarter valued at $38,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of NNN REIT during the 4th quarter valued at $42,000. 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.