NNN REIT (NYSE:NNN) Stock Rating Lowered by BNP Paribas

NNN REIT (NYSE:NNN) was downgraded by investment analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a report issued on Monday, Marketbeat.com reports. They presently have a $44.00 price target on the real estate investment trust’s stock. BNP Paribas’ price objective suggests a potential upside of 2.78% from the stock’s current price.

A number of other brokerages have also weighed in on NNN. Royal Bank of Canada dropped their price objective 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. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 price target (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Colliers Securities downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating in a report on Friday, November 1st. StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Raymond James boosted their price target on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, NNN REIT has a consensus rating of “Hold” and a consensus target price of $47.14.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $42.81 on Monday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $47.64 and a 200 day moving average price of $44.81. NNN REIT has a 52 week low of $37.69 and a 52 week high of $49.57. The company has a market cap of $7.86 billion, a P/E ratio of 19.82, a PEG ratio of 3.46 and a beta of 1.10.

Hedge Funds Weigh In On NNN REIT

A number of institutional investors have recently made changes to their positions in NNN. Sound Income Strategies LLC boosted its stake 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 acquiring an additional 50,213 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of 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 worth $9,134,000 after purchasing an additional 28,476 shares during the last quarter. Amalgamated Bank grew its holdings in shares of NNN REIT by 4.1% during the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock worth $4,420,000 after buying an additional 4,088 shares in the last quarter. SG Americas Securities LLC raised its position in shares of NNN REIT by 95.5% in the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock valued at $2,724,000 after buying an additional 31,141 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of NNN REIT by 40.7% during 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 period. 89.96% of the stock is owned by institutional investors and hedge funds.

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.