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

NNN REIT, Inc. (NYSE:NNN) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $44.54.

Several brokerages recently weighed in on NNN. Barclays increased their price target on shares of NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. 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. UBS Group dropped their price objective 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, May 13th. Wells Fargo & Company raised their price objective on shares of 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, Evercore ISI began coverage on shares of NNN REIT in a research note on Friday, January 31st. They set an “inline” rating and a $42.00 price objective on the stock.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $42.00 on Monday. NNN REIT has a twelve month low of $35.80 and a twelve month high of $49.57. The company’s 50 day moving average is $41.17 and its 200 day moving average is $41.28. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The company has a market cap of $7.89 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92.

NNN REIT (NYSE:NNN) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. NNN REIT had a net margin of 45.65% and a return on equity of 9.28%. The company had revenue of $230.85 million for the quarter, compared to the consensus estimate of $219.68 million. During the same quarter in the prior year, the company earned $0.84 EPS. NNN REIT’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that NNN REIT will post 3.33 EPS for the current year.

NNN REIT Announces Dividend

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

Institutional Investors Weigh In On NNN REIT

A number of institutional investors have recently added to or reduced their stakes in NNN. Brooklyn Investment Group grew its stake in NNN REIT by 140.8% in the 1st quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 469 shares during the period. Putney Financial Group LLC purchased a new position in NNN REIT in the 4th quarter valued at $38,000. Lindbrook Capital LLC lifted its holdings 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 valued at $41,000 after purchasing an additional 305 shares in the last quarter. Millstone Evans Group LLC purchased a new position in NNN REIT in the 4th quarter valued at $42,000. Finally, Inlight Wealth Management LLC purchased a new position in NNN REIT in the 1st quarter valued at $57,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.