NNN REIT (NYSE:NNN) Receives Neutral Rating from B. Riley

B. Riley reissued their neutral rating on shares of NNN REIT (NYSE:NNN) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $43.00 price target on the real estate investment trust’s stock, down from their previous price target of $46.50.

Several other research firms have also recently issued reports on NNN. StockNews.com cut NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada lowered their price target on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 12th. Robert W. Baird lifted their price objective on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a report on Wednesday, January 15th. Finally, Janney Montgomery Scott lowered NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.92.

NNN REIT Price Performance

NYSE:NNN opened at $40.86 on Tuesday. The firm has a market cap of $7.66 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average price is $40.07 and its two-hundred day moving average price is $43.95. NNN REIT has a 12 month low of $37.55 and a 12 month high of $49.57.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.68%. NNN REIT’s payout ratio is presently 107.41%.

Insider Activity

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the sale, the executive vice president now directly owns 68,756 shares in the company, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On NNN REIT

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 280 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of NNN REIT by 43.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 305 shares in the last quarter. Steph & Co. lifted its holdings in shares of NNN REIT by 8.2% in the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 429 shares in the last quarter. DGS Capital Management LLC lifted its position in NNN REIT by 9.5% in the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $218,000 after acquiring an additional 461 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of NNN REIT during the 4th quarter valued at approximately $42,000. Institutional investors own 89.96% of the company’s stock.

NNN REIT Company Profile

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.