NNN REIT (NYSE:NNN) Upgraded at StockNews.com

StockNews.com upgraded shares of NNN REIT (NYSE:NNN) from a hold rating to a buy rating in a research report released on Friday morning.

Several other equities analysts have also weighed in on NNN. Wells Fargo & Company reduced their price objective on shares of NNN REIT from $43.00 to $42.00 and set an equal weight rating for the company in a research report on Thursday, May 30th. UBS Group raised their price objective on shares of NNN REIT from $41.00 to $46.00 and gave the company a neutral rating in a research report on Thursday, July 18th. Finally, BNP Paribas raised shares of NNN REIT from an underperform rating to a neutral rating and set a $42.00 target price on the stock in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, NNN REIT presently has a consensus rating of Hold and an average price target of $45.17.

NNN REIT Price Performance

NNN REIT stock opened at $46.24 on Friday. NNN REIT has a 52-week low of $34.38 and a 52-week high of $46.93. The firm has a fifty day moving average of $43.32 and a 200-day moving average of $42.05. The firm has a market capitalization of $8.48 billion, a P/E ratio of 21.21, a PEG ratio of 3.63 and a beta of 1.07. The company has a quick ratio of 0.52, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

NNN REIT (NYSE:NNN) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter last year, the company posted $0.80 earnings per share. NNN REIT’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts predict that NNN REIT will post 3.29 EPS for the current year.

NNN REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Wednesday, July 31st. This is an increase from NNN REIT’s previous quarterly dividend of $0.57. NNN REIT’s payout ratio is 106.42%.

Institutional Trading of NNN REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of NNN REIT by 77.0% in the fourth quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 328 shares during the period. LRI Investments LLC acquired a new position in shares of NNN REIT in the first quarter worth approximately $34,000. First United Bank & Trust acquired a new position in shares of NNN REIT in the fourth quarter worth approximately $39,000. GAMMA Investing LLC acquired a new position in shares of NNN REIT in the fourth quarter worth approximately $39,000. Finally, Riverview Trust Co acquired a new position in shares of NNN REIT in the first quarter worth approximately $43,000. 89.96% of the stock is currently owned by institutional investors.

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.