NNN REIT, Inc. (NYSE:NNN – Get Free Report) has earned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $47.38.
A number of equities research analysts recently commented on NNN shares. Royal Bank Of Canada increased their price target on NNN REIT from $44.00 to $47.00 and gave the company a “sector perform” rating in a research report on Thursday, August 6th. Evercore set a $47.00 target price on shares of NNN REIT in a research note on Monday, September 21st. National Bank Financial set a $50.00 target price on shares of NNN REIT in a report on Monday, July 20th. Barclays increased their target price on shares of NNN REIT from $45.00 to $47.00 and gave the company an “underweight” rating in a report on Friday, September 4th. Finally, B. Riley Financial restated a “neutral” rating and set a $47.50 price target (up from $46.00) on shares of NNN REIT in a report on Wednesday, August 12th.
View Our Latest Stock Report on NNN REIT
NNN REIT Trading Down 2.3%
NNN REIT (NYSE:NNN – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%.The business had revenue of $244.27 million during the quarter, compared to the consensus estimate of $240.19 million. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. As a group, research analysts predict that NNN REIT will post 3.51 earnings per share for the current fiscal year.
NNN REIT Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.62 dividend. This is a positive change from NNN REIT’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, July 31st. This represents a $2.48 annualized dividend and a yield of 6.2%. NNN REIT’s dividend payout ratio (DPR) is 121.57%.
Hedge Funds Weigh In On NNN REIT
Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG purchased a new stake in NNN REIT in the second quarter worth $19,961,000. Bank of New York Mellon Corp purchased a new position in shares of NNN REIT during the 2nd quarter valued at $85,430,000. Hsbc Holdings PLC lifted its position in shares of NNN REIT by 33.2% during the 2nd quarter. Hsbc Holdings PLC now owns 689,173 shares of the real estate investment trust’s stock valued at $32,228,000 after buying an additional 171,669 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of NNN REIT during the 2nd quarter worth $7,719,000. Finally, AXQ Capital LP increased its holdings in NNN REIT by 177.8% in the 2nd quarter. AXQ Capital LP now owns 38,361 shares of the real estate investment trust’s stock worth $1,785,000 after acquiring an additional 24,554 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.
NNN REIT Company Profile
NNN REIT, Inc is a real estate investment trust that owns and manages a diversified portfolio of freestanding retail properties. The company primarily leases these properties to tenants under long-term, triple-net lease agreements, which generally require tenants to pay property taxes, insurance and maintenance expenses in addition to rent.
Its properties serve businesses in industries such as convenience stores, automotive services, restaurants, retail, pharmacies and other essential-service categories.
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