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.

A number of other research firms also recently issued reports on NNN. UBS Group raised their price target on shares of NNN REIT from $41.00 to $46.00 and gave the stock a neutral rating in a research report on Thursday, July 18th. BNP Paribas upgraded shares of NNN REIT from an underperform rating to a neutral rating and set a $42.00 price objective for the company in a research report on Thursday, May 2nd. Finally, 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. 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 has an average rating of Hold and a consensus price target of $45.17.

NNN REIT Price Performance

Shares of NNN stock opened at $46.24 on Friday. The company has a market capitalization of $8.48 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 3.63 and a beta of 1.07. The firm has a fifty day simple moving average of $43.32 and a 200-day simple moving average of $42.05. The company has a current ratio of 1.72, a quick ratio of 0.52 and a debt-to-equity ratio of 1.04. NNN REIT has a twelve month low of $34.38 and a twelve month high of $46.93.

NNN REIT (NYSE:NNN) last posted its quarterly earnings data 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 company had revenue of $216.81 million for the quarter, compared to the consensus estimate of $212.30 million. During the same quarter last year, the company earned $0.80 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that NNN REIT will post 3.29 earnings per share for the current fiscal 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 issued a dividend of $0.58 per share. This is a boost from NNN REIT’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Wednesday, July 31st. NNN REIT’s dividend payout ratio (DPR) is currently 106.42%.

Hedge Funds Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its position 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 valued at $32,000 after purchasing an additional 328 shares during the period. LRI Investments LLC acquired a new stake in shares of NNN REIT in the 1st quarter valued at $34,000. First United Bank & Trust acquired a new stake in shares of NNN REIT in the 4th quarter valued at $39,000. GAMMA Investing LLC bought a new position in shares of NNN REIT in the fourth quarter valued at about $39,000. Finally, Riverview Trust Co bought a new position in shares of NNN REIT in the first quarter valued at about $43,000. Institutional investors own 89.96% of the company’s stock.

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.