NNN REIT (NYSE:NNN) Sets New 12-Month High at $46.75

NNN REIT, Inc. (NYSE:NNN) shares reached a new 52-week high on Friday . The company traded as high as $46.75 and last traded at $46.49, with a volume of 230857 shares trading hands. The stock had previously closed at $45.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NNN shares. UBS Group increased their price target on NNN REIT from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company lowered their price target on NNN REIT from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. StockNews.com raised shares of NNN REIT from a “hold” rating to a “buy” rating in a report on Friday. Finally, BNP Paribas upgraded 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.50.

NNN REIT Stock Up 1.3 %

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.52 and a current ratio of 0.52. The company has a fifty day simple moving average of $43.12 and a two-hundred day simple moving average of $42.00. The firm has a market capitalization of $8.54 billion, a PE ratio of 20.97, a PEG ratio of 3.54 and a beta of 1.07.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.98%. This is a boost from NNN REIT’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, July 31st. NNN REIT’s dividend payout ratio is presently 106.42%.

Institutional Trading of NNN REIT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its stake in NNN REIT by 77.0% during the 4th 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 last quarter. LRI Investments LLC purchased a new position in NNN REIT during the first quarter worth approximately $34,000. First United Bank & Trust acquired a new stake in NNN REIT in the fourth quarter valued at approximately $39,000. GAMMA Investing LLC purchased a new stake in shares of NNN REIT in the fourth quarter valued at approximately $39,000. Finally, Riverview Trust Co acquired a new position in shares of NNN REIT during the 1st quarter worth approximately $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.