NNN REIT (NYSE:NNN) Earns Overweight Rating from Analysts at Barclays

Analysts at Barclays began coverage on shares of NNN REIT (NYSE:NNN) in a research note issued on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating and a $48.00 price target on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 17.68% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Robert W. Baird increased their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Royal Bank of Canada reduced their target price on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. UBS Group decreased their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. B. Riley lowered their price objective on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, Colliers Securities downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, NNN REIT currently has a consensus rating of “Hold” and a consensus price target of $46.17.

NNN REIT Stock Performance

NYSE:NNN opened at $40.79 on Tuesday. The stock has a fifty day moving average price of $44.37 and a 200-day moving average price of $45.08. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 2.16 and a beta of 1.10. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. NNN REIT has a fifty-two week low of $38.88 and a fifty-two week high of $49.57.

Insider Transactions at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction on Tuesday, December 10th. The stock was 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 owns 68,756 shares of the company’s stock, valued at $2,922,817.56. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.80% of the company’s stock.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently modified their holdings of NNN. Sound Income Strategies LLC increased its stake in 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 worth $15,280,000 after acquiring an additional 50,213 shares during the last quarter. Raymond James Trust N.A. grew its position in NNN REIT by 19.6% in the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock valued at $550,000 after acquiring an additional 2,120 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 worth $110,000 after buying an additional 280 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in NNN REIT by 17.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after buying an additional 28,476 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after buying an additional 15,100 shares during the period. 89.96% of the stock is currently owned by institutional investors.

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.