NNN REIT, Inc. (NYSE:NNN) Receives $45.85 Average Price Target from Brokerages

Shares of NNN REIT, Inc. (NYSE:NNN) have been given an average rating of “Hold” by the eleven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $45.85.

A number of analysts have commented on the company. Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. BNP Paribas downgraded shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target on the stock. in a research note on Monday, November 4th. StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Jefferies Financial Group lowered shares of NNN REIT from a “buy” rating to a “hold” rating and decreased their target price for the company from $52.00 to $43.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada dropped their price target on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st.

Insiders Place Their Bets

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the transaction, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of 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 worth $110,000 after acquiring an additional 280 shares during the last quarter. GAMMA Investing LLC raised its holdings in NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 553 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of NNN REIT by 32.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 1,414 shares during the last quarter. Goodman Financial Corp boosted its stake in shares of NNN REIT by 1.2% in the 3rd quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after purchasing an additional 3,388 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of NNN REIT by 4.1% during the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock worth $4,420,000 after buying an additional 4,088 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Down 2.3 %

Shares of NNN opened at $38.01 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The company has a 50-day simple moving average of $41.90 and a 200-day simple moving average of $44.83. NNN REIT has a 52 week low of $37.92 and a 52 week high of $49.57. The firm has a market capitalization of $7.13 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.17 and a beta of 1.11.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.58 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a yield of 6.10%. NNN REIT’s dividend payout ratio is 107.41%.

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.