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

B. Riley reiterated their neutral rating on shares of NNN REIT (NYSE:NNN) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $43.00 price target on the real estate investment trust’s stock, down from their previous price target of $46.50.

NNN has been the topic of several other research reports. UBS Group reduced their price objective on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $52.00 to $43.00 in a research report on Thursday, January 2nd. BNP Paribas downgraded shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price for the company. in a research report 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 for the company in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their price objective on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. One research 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’s stock. Based on data from MarketBeat, NNN REIT currently has a consensus rating of “Hold” and an average target price of $44.92.

NNN REIT Stock Up 0.8 %

Shares of NNN REIT stock opened at $41.18 on Tuesday. The business has a fifty day simple moving average of $40.01 and a 200 day simple moving average of $43.91. The stock has a market cap of $7.72 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.04 and a beta of 1.11. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT has a 12 month low of $37.55 and a 12 month high of $49.57.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is presently 107.91%.

Insider Buying and Selling at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the sale, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This represents a 1.43 % decrease in their position. 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its stake in 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 worth $41,000 after buying an additional 305 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of NNN REIT during the 4th quarter worth approximately $42,000. Farther Finance Advisors LLC boosted its position in shares of NNN REIT by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 280 shares in the last quarter. DGS Capital Management LLC bought a new position in NNN REIT in the third quarter valued at approximately $236,000. Finally, EverSource Wealth Advisors LLC raised its position in NNN REIT by 882.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 4,449 shares in the last quarter. Institutional investors and hedge funds 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.