Analysts Set NNN REIT, Inc. (NYSE:NNN) PT at $45.50

NNN REIT, Inc. (NYSE:NNN) has been given an average recommendation of “Hold” by the six research firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $46.83.

Several research firms have recently issued reports on NNN. Raymond James boosted their price target on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. B. Riley raised their price target on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. UBS Group boosted their price objective on NNN REIT from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company restated an “equal weight” rating and issued a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. Finally, StockNews.com upgraded NNN REIT from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd.

NNN REIT Price Performance

NNN REIT stock opened at $47.89 on Friday. The business’s 50 day simple moving average is $47.17 and its 200 day simple moving average is $43.95. NNN REIT has a 12 month low of $34.46 and a 12 month high of $49.10. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 3.84 and a beta of 1.09. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04.

NNN REIT (NYSE:NNN) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The firm had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $212.30 million. During the same period in the prior year, the company earned $0.80 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that NNN REIT will post 3.3 EPS for the current year.

NNN REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a $0.58 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $2.32 annualized dividend and a dividend yield of 4.84%. This is a boost from NNN REIT’s previous quarterly dividend of $0.57. NNN REIT’s dividend payout ratio (DPR) is presently 106.42%.

Insider Activity

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the transaction, the executive vice president now directly owns 69,756 shares in the company, valued at approximately $3,270,161.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in shares of NNN REIT in the 1st quarter worth about $34,000. Riverview Trust Co bought a new stake in NNN REIT in the 1st quarter worth approximately $43,000. Bruce G. Allen Investments LLC boosted its stake in NNN REIT by 1,276.8% in the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares in the last quarter. Versant Capital Management Inc bought a new position in NNN REIT during the second quarter valued at approximately $59,000. Finally, GAMMA Investing LLC raised its stake in shares of NNN REIT by 93.2% during the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 1,123 shares in the last quarter. 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.