NNN REIT, Inc. (NYSE:NNN) Receives $44.92 Consensus Target Price from Brokerages

Shares of NNN REIT, Inc. (NYSE:NNN) have been given an average recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $45.00.

A number of analysts have recently issued reports on the stock. 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 report on Wednesday, February 12th. Morgan Stanley raised shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research report on Wednesday, January 15th. B. Riley reiterated a “neutral” rating and set a $43.00 target price (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Evercore ISI initiated coverage on NNN REIT in a research note on Friday, January 31st. They issued an “inline” rating and a $42.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a research report on Wednesday, December 11th. They set a “hold” rating and a $46.00 price objective for the company.

NNN REIT Trading Down 0.9 %

NNN REIT stock opened at $42.45 on Wednesday. NNN REIT has a one year low of $37.55 and a one year high of $49.57. The business’s fifty day moving average is $40.19 and its 200 day moving average is $43.68. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $7.96 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Friday, January 31st. NNN REIT’s payout ratio is 107.91%.

Insiders Place Their Bets

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total value of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several institutional investors have recently made changes to their positions in NNN. Putney Financial Group LLC bought a new position in NNN REIT in the 4th quarter worth approximately $38,000. Lindbrook Capital LLC lifted its holdings 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 worth $41,000 after buying an additional 305 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of NNN REIT during the fourth quarter worth $42,000. Farther Finance Advisors LLC grew its stake in NNN REIT by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 280 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in NNN REIT by 882.7% in the 4th 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. Hedge funds and other institutional investors 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.