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

NNN REIT (NYSE:NNN)‘s stock had its “neutral” rating reaffirmed by stock analysts at B. Riley in a note issued to investors on Tuesday,Benzinga reports. They presently have a $43.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $46.50. B. Riley’s target price indicates a potential upside of 4.70% from the company’s current price.

NNN has been the subject of several other reports. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research note on Wednesday, January 15th. Robert W. Baird raised their price target on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Janney Montgomery Scott cut shares of NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Wednesday, January 15th. Barclays decreased their target price on shares of NNN REIT from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, UBS Group reduced their price target on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.92.

NNN REIT Stock Performance

NYSE NNN traded up $0.63 during trading on Tuesday, reaching $41.07. The company’s stock had a trading volume of 73,794 shares, compared to its average volume of 1,206,141. The firm has a 50 day moving average price of $40.10 and a 200 day moving average price of $43.99. NNN REIT has a 12 month low of $37.55 and a 12 month high of $49.57. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00.

Insider Buying and Selling at NNN REIT

In other 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 transaction of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in shares of 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 during the last quarter. Lindbrook Capital LLC lifted its stake in shares of NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 305 shares during the period. Steph & Co. boosted its holdings in NNN REIT by 8.2% in the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 429 shares during the last quarter. DGS Capital Management LLC increased its position in NNN REIT by 9.5% during 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 purchasing an additional 461 shares during the period. Finally, Millstone Evans Group LLC bought a new position in NNN REIT during the 4th quarter worth approximately $42,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.