NNN REIT, Inc. (NYSE:NNN) Receives Average Rating of “Hold” from Brokerages

NNN REIT, Inc. (NYSE:NNN) has received a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One 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. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $45.85.

A number of brokerages recently issued reports on NNN. StockNews.com lowered shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada cut their price target on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Barclays assumed coverage on NNN REIT in a report on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 price objective for the company. Robert W. Baird lifted their target price on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and decreased their price target for the company from $52.00 to $43.00 in a research note on Thursday, January 2nd.

NNN REIT Price Performance

Shares of NNN opened at $38.59 on Tuesday. 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 stock has a market cap of $7.24 billion, a PE ratio of 17.87, a PEG ratio of 2.17 and a beta of 1.11. NNN REIT has a 12-month low of $37.55 and a 12-month high of $49.57. The business has a 50-day simple moving average of $41.80 and a two-hundred day simple moving average of $44.82.

Insiders Place Their Bets

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction dated 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 directly owns 68,756 shares of the company’s stock, valued at $2,922,817.56. The trade was a 1.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

A number of hedge funds have recently added to or reduced their stakes in NNN. Sound Income Strategies LLC raised 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 worth $15,280,000 after purchasing an additional 50,213 shares during the period. Goodman Financial Corp increased its stake in NNN REIT by 1.2% during the 3rd quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after purchasing an additional 3,388 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in 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 last quarter. Amalgamated Bank lifted its stake in shares of NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after buying an additional 4,088 shares in the last quarter. Finally, Strengthening Families & Communities LLC grew its holdings in shares of 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 valued at $3,066,000 after buying an additional 4,170 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.