NNN REIT (NYSE:NNN) Rating Lowered to “Hold” at Jefferies Financial Group

NNN REIT (NYSE:NNN) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Thursday, MarketBeat reports. They presently have a $43.00 target price on the real estate investment trust’s stock, down from their previous target price of $52.00. Jefferies Financial Group’s price objective would suggest a potential upside of 6.49% from the company’s previous close.

A number of other analysts have also weighed in on the stock. BNP Paribas lowered shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 price objective on the stock. UBS Group lowered their target price on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.85.

NNN REIT Stock Performance

Shares of NNN REIT stock opened at $40.38 on Thursday. 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 company has a market cap of $7.57 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The company has a 50 day moving average of $42.53 and a 200-day moving average of $44.93. NNN REIT has a 1-year low of $38.88 and a 1-year high of $49.57.

Insider Activity at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction that occurred 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 approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NNN REIT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC lifted its position in shares of NNN REIT by 19.0% during the third 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in NNN REIT by 17.8% in 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 during the last quarter. Handelsbanken Fonder AB increased its stake 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 last quarter. Everence Capital Management Inc. purchased a new position in shares of NNN REIT in the 4th quarter worth approximately $206,000. Finally, DGS Capital Management LLC purchased a new position in shares of NNN REIT in the 3rd quarter worth approximately $236,000. 89.96% of the stock is 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.