NNN REIT (NYSE:NNN) Downgraded by Colliers Securities to Neutral

Colliers Securities downgraded shares of NNN REIT (NYSE:NNN) from a buy rating to a neutral rating in a research report released on Friday morning, MarketBeat Ratings reports.

Other research analysts have also issued research reports about the company. B. Riley increased their target price on NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Raymond James increased their price objective on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price target (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. Finally, UBS Group lifted their price objective on NNN REIT from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, NNN REIT has an average rating of “Hold” and an average target price of $47.14.

NNN REIT Price Performance

Shares of NNN REIT stock opened at $43.33 on Friday. The firm has a market cap of $7.96 billion, a PE ratio of 20.06, a P/E/G ratio of 3.46 and a beta of 1.10. NNN REIT has a twelve month low of $37.69 and a twelve month high of $49.57. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $47.71 and a 200 day moving average price of $44.78.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.32 annualized dividend and a yield of 5.35%. NNN REIT’s dividend payout ratio (DPR) is currently 107.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in 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 acquiring an additional 280 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of NNN REIT by 19.0% in the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock valued at $15,280,000 after purchasing an additional 50,213 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of NNN REIT by 23.8% in the 3rd 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 in the last quarter. Handelsbanken Fonder AB lifted its position in shares of NNN REIT by 40.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after purchasing an additional 15,100 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its position 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 acquiring an additional 1,414 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.