Deutsche Bank Aktiengesellschaft Initiates Coverage on NNN REIT (NYSE:NNN)

Equities research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT (NYSE:NNN) in a report issued on Wednesday, MarketBeat.com reports. The firm set a “hold” rating and a $46.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 8.46% from the company’s current price.

A number of other equities research analysts have also recently weighed in on NNN. Robert W. Baird increased their price target on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective on the stock. in a report on Monday, November 4th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 target price (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Raymond James boosted their target price on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Finally, Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, NNN REIT currently has an average rating of “Hold” and a consensus target price of $45.94.

NNN REIT Trading Down 0.1 %

Shares of NYSE:NNN opened at $42.41 on Wednesday. NNN REIT has a 52-week low of $38.88 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 company has a market capitalization of $7.95 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The company has a 50-day simple moving average of $44.84 and a 200 day simple moving average of $45.03.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NNN REIT

Hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC boosted its holdings in NNN REIT by 19.0% in 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. Goodman Financial Corp lifted its position in shares of NNN REIT by 1.2% in the 3rd quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock worth $14,065,000 after purchasing an additional 3,388 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of 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 period. Amalgamated Bank increased its position 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 during the period. Finally, Strengthening Families & Communities LLC raised its stake in NNN REIT by 7.1% during the third quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock worth $3,066,000 after buying an additional 4,170 shares during the last quarter. 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.