NNN REIT (NYSE:NNN) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of NNN REIT (NYSE:NNN) from a hold rating to a buy rating in a report released on Friday.

Several other research firms have also recently commented on NNN. UBS Group started coverage on shares of NNN REIT in a research note on Friday, May 31st. They set a neutral rating and a $41.00 target price for the company. BNP Paribas raised NNN REIT from an underperform rating to a neutral rating and set a $42.00 target price on the stock in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company lowered their price target on NNN REIT from $43.00 to $42.00 and set an equal weight rating on the stock in a research note on Thursday, May 30th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $43.67.

NNN REIT Stock Performance

Shares of NYSE NNN opened at $44.36 on Friday. NNN REIT has a 12 month low of $34.38 and a 12 month high of $44.87. The company has a market cap of $8.13 billion, a P/E ratio of 20.35, a P/E/G ratio of 3.50 and a beta of 1.07. The business’s 50 day moving average is $42.16 and its two-hundred day moving average is $41.74. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.04.

Institutional Investors Weigh In On NNN REIT

Large investors have recently modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings in NNN REIT by 77.0% during the 4th quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 328 shares during the last quarter. LRI Investments LLC bought a new position in shares of NNN REIT in the first quarter valued at approximately $34,000. First United Bank & Trust acquired a new position in shares of NNN REIT in the 4th quarter worth approximately $39,000. GAMMA Investing LLC acquired a new position in shares of NNN REIT in the 4th quarter worth approximately $39,000. Finally, Riverview Trust Co bought a new stake in NNN REIT during the 1st quarter worth approximately $43,000. 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.