NNN REIT (NYSE:NNN) Upgraded to “Overweight” at Morgan Stanley

NNN REIT (NYSE:NNN) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $48.00 target price on the real estate investment trust’s stock. Morgan Stanley’s price target suggests a potential upside of 22.39% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. UBS Group reduced their price objective on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price objective on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group cut shares of NNN REIT from a “buy” rating to a “hold” rating and dropped their price objective for the company from $52.00 to $43.00 in a research note on Thursday, January 2nd. Barclays initiated coverage on shares of NNN REIT in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 target price on the stock. Finally, Robert W. Baird increased their target price on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.05.

NNN REIT Trading Up 1.6 %

NNN REIT stock opened at $39.22 on Wednesday. NNN REIT has a 52 week low of $37.55 and a 52 week high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The firm has a market capitalization of $7.35 billion, a PE ratio of 18.16, a PEG ratio of 2.17 and a beta of 1.11. The business’s 50-day simple moving average is $41.80 and its 200-day simple moving average is $44.82.

Insiders Place Their Bets

In other news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction that occurred 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 sale, the executive vice president now owns 68,756 shares in the company, valued at $2,922,817.56. The trade was a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On NNN REIT

A number of large investors have recently added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new stake in NNN REIT in the 4th quarter valued at approximately $206,000. Sound Income Strategies LLC raised its holdings 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 period. Farther Finance Advisors LLC grew its holdings in NNN REIT by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 280 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position in NNN REIT by 17.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after buying an additional 28,476 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of NNN REIT by 40.7% in the third 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 last quarter. Institutional investors own 89.96% of the company’s stock.

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.