NNN REIT, Inc. (NYSE:NNN) Receives $45.94 Average PT from Brokerages

NNN REIT, Inc. (NYSE:NNN) has been assigned an average rating of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $46.17.

A number of equities research analysts have weighed in on NNN shares. B. Riley lowered their target price on NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a report on Wednesday, December 4th. Raymond James lifted their target price on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Barclays started coverage on NNN REIT in a report on Tuesday. They issued an “overweight” rating and a $48.00 target price for the company. UBS Group lowered their target price on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Insider Activity at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now owns 68,756 shares of the company’s stock, valued at $2,922,817.56. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Nicholas Hoffman & Company LLC. boosted its position in shares of 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 boosted its position in NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 280 shares during the last quarter. GAMMA Investing LLC boosted its position in NNN REIT by 23.8% in the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 553 shares during the last quarter. LRI Investments LLC boosted its position in NNN REIT by 100.6% in the second 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 during the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in NNN REIT by 32.9% in the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 1,414 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Price Performance

Shares of NNN opened at $41.89 on Friday. NNN REIT has a 1 year low of $38.88 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The business has a 50-day moving average of $44.51 and a 200-day moving average of $45.11.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.58 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.54%. NNN REIT’s dividend payout ratio is 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.