NNN REIT, Inc. (NYSE:NNN) Receives Average Recommendation of “Hold” from Analysts

NNN REIT, Inc. (NYSE:NNN) has been assigned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $44.46.

A number of research firms have recently weighed in on NNN. Royal Bank of Canada cut their price target on 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. Barclays dropped their price objective on NNN REIT from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 21st. UBS Group dropped their price objective on NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company raised their price objective on NNN REIT from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Finally, B. Riley reaffirmed a “neutral” rating and set a $43.00 price objective (down previously from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th.

NNN REIT Stock Performance

NNN stock opened at $42.48 on Friday. The business’s fifty day moving average is $41.04 and its 200-day moving average is $41.14. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. The company has a market cap of $7.98 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92. NNN REIT has a twelve month low of $35.80 and a twelve month high of $49.57.

NNN REIT (NYSE:NNN) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share 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 the consensus estimate of $219.68 million. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 EPS. Equities research analysts forecast that NNN REIT will post 3.33 EPS for the current year.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Wednesday, April 30th. NNN REIT’s dividend payout ratio is 108.41%.

Institutional Trading of NNN REIT

Several hedge funds and other institutional investors have recently modified their holdings of NNN. Pathway Financial Advisers LLC raised its stake in shares of NNN REIT by 12.0% in the 4th quarter. Pathway Financial Advisers LLC now owns 12,840 shares of the real estate investment trust’s stock valued at $525,000 after purchasing an additional 1,374 shares during the period. Handelsbanken Fonder AB increased its position in shares of NNN REIT by 6.5% in the fourth quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust’s stock valued at $2,271,000 after acquiring an additional 3,400 shares during the last quarter. Amalgamated Bank increased its position in shares of NNN REIT by 1.7% in the fourth quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust’s stock valued at $3,634,000 after acquiring an additional 1,521 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of NNN REIT by 43.3% in the fourth 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. Finally, EverSource Wealth Advisors LLC increased its position in shares of NNN REIT by 882.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 4,449 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.