NNN REIT (NYSE:NNN) Now Covered by Analysts at Barclays

Barclays started coverage on shares of NNN REIT (NYSE:NNN) in a research note published on Tuesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $48.00 price objective on the real estate investment trust’s stock.

NNN has been the subject of several other research reports. UBS Group cut their price objective on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a research report on Monday, November 4th. Wells Fargo & Company restated an “equal weight” rating and issued a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Raymond James raised their price target on shares of NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.17.

NNN REIT Stock Down 0.8 %

NNN REIT stock opened at $41.89 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. NNN REIT has a fifty-two week low of $38.88 and a fifty-two week high of $49.57. The firm has a fifty day moving average price of $44.51 and a two-hundred day moving average price of $45.11. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 2.16 and a beta of 1.10.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.54%. The ex-dividend date was Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Insider Buying and Selling 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 stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NNN. LRI Investments LLC grew its holdings in shares of NNN REIT by 100.6% in the 2nd quarter. LRI Investments LLC now owns 1,613 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 809 shares during the last quarter. Farther Finance Advisors LLC boosted its position in NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 280 shares in the last quarter. GAMMA Investing LLC grew its stake in NNN REIT by 23.8% during 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 last quarter. DGS Capital Management LLC acquired a new stake in shares of NNN REIT during the third quarter worth approximately $236,000. Finally, Pathway Financial Advisers LLC raised its stake in shares of NNN REIT by 32.9% in the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 1,414 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.