NNN REIT (NYSE:NNN) Cut to Hold at Jefferies Financial Group

NNN REIT (NYSE:NNN) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $43.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $52.00. Jefferies Financial Group’s price target points to a potential upside of 5.26% from the company’s previous close.

A number of other equities research analysts have also recently commented on NNN. UBS Group reduced their target price on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft assumed coverage on NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 target price for the company. Robert W. Baird raised their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Colliers Securities cut shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.85.

NNN REIT Price Performance

NNN REIT stock opened at $40.85 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The company’s fifty day moving average price is $42.80 and its 200 day moving average price is $44.97. The stock has a market capitalization of $7.66 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.16 and a beta of 1.10. NNN REIT has a 1 year low of $38.88 and a 1 year high of $49.57.

Insider Buying and Selling at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the sale, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several large investors have recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. boosted its position in shares of NNN REIT by 1.8% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 240 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 280 shares in the last quarter. GAMMA Investing LLC grew its position in shares of NNN REIT by 23.8% in the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 553 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in shares of NNN REIT by 32.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Goodman Financial Corp lifted its stake in NNN REIT by 1.2% in the 3rd quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after buying an additional 3,388 shares in the last quarter. Institutional investors and hedge funds 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.