In yesterday’s Wall Street session, NNN REIT Inc. (NYSE:NNN) shares traded at $42.68, down -0.33% from the previous session.
As of this writing, 15 analysts cover NNN REIT Inc. (NYSE:NNN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $54.00 and a low of $42.00, we find $47.00. Given the previous closing price of $42.82, this indicates a potential upside of 9.76 percent. NNN stock price is now -0.57% away from the 50-day moving average and -3.20% away from the 200-day moving average. The market capitalization of the company currently stands at $7.91B.
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There are 5 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $48.08 as their price target over the next twelve months.
With the price target maintained at $48, Janney recently Upgraded its rating from Neutral to Buy for NNN REIT Inc. (NYSE: NNN).
In other news, HABICHT KEVIN B, EVP, Chief Financial Officer sold 10,520 shares of the company’s stock on Aug 12. The stock was sold for $505,591 at an average price of $48.06. Upon completion of the transaction, the EVP, Chief Financial Officer now directly owns 203,717 shares in the company, valued at $8.69 million. Insiders disposed of 54,873 shares of company stock worth roughly $2.34 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NNN stock. A new stake in NNN REIT Inc. shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $12,682,000. ALLIANZ ASSET MANAGEMENT GMBH invested $9,888,000 in shares of NNN during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in NNN REIT Inc. valued at approximately $5,048,000. EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in NNN for approximately $4,168,000. CUBIST SYSTEMATIC STRATEGIES, LLC purchased a new stake in NNN valued at around $3,738,000 in the second quarter. In total, there are 597 active investors with 92.10% ownership of the company’s stock.
Monday morning saw NNN REIT Inc. (NYSE: NNN) opened at $42.78. During the past 12 months, NNN REIT Inc. has had a low of $38.05 and a high of $48.42. According to the stock market information, the enterprise value for the company is $11.75B, which is based on a 22.33 price-to-earnings ratio, a 2.28 price-to-earnings-growth ratio, and a beta of 0.86. The fifty day moving average price for NNN is $42.90 and a two-hundred day moving average price translates $44.11 for the stock.
The latest earnings results from NNN REIT Inc. (NYSE: NNN) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at $0.5, beating analysts’ expectations of $0.47 by 0.03. This compares to $0.46 EPS in the same period last year. The company reported revenue of $204.11 million for the quarter, compared to $190.28 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.27 percent. For the current quarter, analysts expect NNN to generate $202.57M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/15/2023. Investors who held shares on 07/31/2023 were paid a $0.565 dividend. On an annualized basis, this represents a $2.26 dividend and a 5.30% percent yield. There was an ex-dividend date of 07/28/2023 for this dividend. In terms of dividend payout ratio, NNN is presently at 113.90%.
NNN REIT Inc.(NNN) Company Profile
NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2023, the company owned 3,449 properties in 49 states with a gross leasable area of approximately 35.3 million square feet and with a weighted average remaining lease term of 10.3 years. NNN is one of only three publicly traded REITs to have increased annual dividends for 33 or more consecutive years.
