Analysts Set NNN REIT, Inc. (NYSE:NNN) PT at $44.50

Shares of NNN REIT, Inc. (NYSE:NNN) have been assigned an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $44.50.

Separately, BNP Paribas upgraded NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 target price for the company in a research note on Thursday, May 2nd.

NNN REIT Price Performance

NYSE:NNN opened at $42.11 on Thursday. The stock has a market capitalization of $7.72 billion, a PE ratio of 19.32, a P/E/G ratio of 4.86 and a beta of 1.00. NNN REIT has a 1-year low of $34.38 and a 1-year high of $44.87. The firm has a fifty day simple moving average of $41.40 and a 200 day simple moving average of $40.81. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.04.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.565 per share. The ex-dividend date is Monday, April 29th. This represents a $2.26 annualized dividend and a dividend yield of 5.37%. NNN REIT’s dividend payout ratio is presently 103.67%.

Institutional Investors Weigh In On NNN REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC raised its holdings in NNN REIT by 77.0% in the 4th quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 328 shares in the last quarter. First United Bank & Trust acquired a new position in NNN REIT in the fourth quarter valued at about $39,000. GAMMA Investing LLC bought a new stake in NNN REIT during the fourth quarter worth about $39,000. Riverview Trust Co acquired a new stake in NNN REIT during the first quarter worth about $43,000. Finally, Essex Financial Services Inc. increased its holdings in NNN REIT by 9.3% in the 4th quarter. Essex Financial Services Inc. now owns 12,755 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 1,080 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.