Analysts Set NNN REIT, Inc. (NYSE:NNN) PT at $44.54

NNN REIT, Inc. (NYSE:NNN) has earned a consensus rating of “Hold” from the thirteen research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $44.54.

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Royal Bank of Canada dropped their price target on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. Evercore ISI started coverage on shares of NNN REIT in a report on Friday, January 31st. They issued an “inline” rating and a $42.00 price objective for the company. Finally, B. Riley reiterated a “neutral” rating and issued a $43.00 price objective (down from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th.

NNN REIT Trading Up 1.3%

NYSE NNN opened at $42.00 on Monday. The stock has a market cap of $7.89 billion, a P/E ratio of 19.53, a PEG ratio of 2.06 and a beta of 0.92. The company’s fifty day simple moving average is $41.17 and its 200-day simple moving average is $41.32. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT has a 52 week low of $35.80 and a 52 week high of $49.57.

NNN REIT (NYSE:NNN) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The company had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. NNN REIT’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. Equities research analysts predict that NNN REIT will post 3.33 EPS for the current fiscal year.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend was Wednesday, April 30th. NNN REIT’s payout ratio is 108.41%.

Institutional Trading of NNN REIT

A number of large investors have recently added to or reduced their stakes in NNN. Brooklyn Investment Group boosted its holdings in NNN REIT by 140.8% during the first quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 469 shares in the last quarter. Putney Financial Group LLC bought a new stake in NNN REIT during the fourth quarter worth approximately $38,000. Lindbrook Capital LLC boosted its stake in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 305 shares during the period. Millstone Evans Group LLC purchased a new position in NNN REIT during the 4th quarter worth approximately $42,000. Finally, Inlight Wealth Management LLC acquired a new stake in NNN REIT during the 1st quarter valued at $57,000. 89.96% of the stock is currently 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.