Barclays Issues Pessimistic Forecast for NNN REIT (NYSE:NNN) Stock Price

NNN REIT (NYSE:NNN) had its price target cut by stock analysts at Barclays from $48.00 to $46.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 17.62% from the stock’s previous close.

Other equities analysts have also recently issued reports about 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 report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NNN REIT in a research report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective on the stock. StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Morgan Stanley raised shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a report on Wednesday, January 15th. Finally, Evercore ISI began coverage on NNN REIT in a research report on Friday. They set an “inline” rating and a $42.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.35.

NNN REIT Trading Down 0.7 %

Shares of NNN REIT stock opened at $39.11 on Tuesday. The company has a 50-day moving average of $40.90 and a two-hundred day moving average of $44.43. NNN REIT has a 12-month low of $37.55 and a 12-month high of $49.57. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. The stock has a market cap of $7.33 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

Insider Transactions at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the transaction, the executive vice president now owns 68,756 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Several large investors have recently made changes to their positions in NNN. Farther Finance Advisors LLC boosted its position in 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 purchasing an additional 280 shares during the period. GAMMA Investing LLC boosted its position in shares of NNN REIT by 23.8% in the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 553 shares during the period. DGS Capital Management LLC acquired a new stake in shares of NNN REIT in the third quarter valued at about $236,000. Everence Capital Management Inc. purchased a new stake in shares of NNN REIT during the 4th quarter valued at about $206,000. Finally, Steph & Co. lifted its position in NNN REIT by 8.2% during the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 429 shares in the last quarter. Institutional investors and hedge funds 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.