NNN REIT (NYSE:NNN) Price Target Raised to $46.00

NNN REIT (NYSE:NNN) had its price objective increased by Truist Financial from $45.00 to $46.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on NNN. Weiss Ratings lowered shares of NNN REIT from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a research report on Monday, September 21st. Robert W. Baird set a $49.00 price target on shares of NNN REIT in a research note on Thursday, August 6th. National Bank Financial set a $50.00 price objective on shares of NNN REIT in a research report on Monday, July 20th. Finally, Citigroup reduced their price objective on NNN REIT from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.56.

NNN REIT Stock Performance

NNN stock opened at $40.93 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.58 and a quick ratio of 0.58. NNN REIT has a 1 year low of $38.90 and a 1 year high of $50.00. The company has a market cap of $7.94 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 5.06 and a beta of 0.77. The stock’s fifty day moving average price is $41.65 and its 200-day moving average price is $44.23.

NNN REIT (NYSE:NNN) last posted its quarterly earnings data on Wednesday, November 4th. The real estate investment trust reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The company had revenue of $249.68 million during the quarter, compared to analysts’ expectations of $245.37 million. NNN REIT had a return on equity of 8.93% and a net margin of 40.89%. On average, equities analysts forecast that NNN REIT will post 3.52 earnings per share for the current year.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 6.1%. NNN REIT’s payout ratio is 118.10%.

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNN. Resona Asset Management Co. Ltd. boosted its holdings in shares of NNN REIT by 0.9% in the third quarter. Resona Asset Management Co. Ltd. now owns 84,328 shares of the real estate investment trust’s stock valued at $3,485,000 after purchasing an additional 749 shares during the period. Focus Advisor Solutions LLC increased its holdings in NNN REIT by 93.2% during the 3rd quarter. Focus Advisor Solutions LLC now owns 48,381 shares of the real estate investment trust’s stock worth $1,988,000 after purchasing an additional 23,338 shares during the period. Landscape Capital Management L.L.C. purchased a new position in NNN REIT during the 3rd quarter worth $1,466,000. Global Retirement Partners LLC increased its holdings in NNN REIT by 121.4% during the 3rd quarter. Global Retirement Partners LLC now owns 4,247 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 2,329 shares during the period. Finally, Cibc World Market Inc. bought a new stake in NNN REIT during the 3rd quarter valued at $8,317,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

About NNN REIT

NNN REIT, Inc. is a real estate investment trust that owns and manages freestanding retail properties across the United States. Its portfolio includes properties leased to businesses in a range of retail categories. The company primarily uses long-term, single-tenant net leases. Under these arrangements, tenants generally pay property expenses such as taxes, insurance and maintenance in addition to rent. Founded in 1984, the company was formerly known as National Retail Properties before adopting the NNN REIT name in 2023.