NNN REIT (NYSE:NNN) Now Covered by Analysts at Evercore ISI

Equities researchers at Evercore ISI began coverage on shares of NNN REIT (NYSE:NNN) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set an “inline” rating and a $42.00 price target on the real estate investment trust’s stock. Evercore ISI’s price target would indicate a potential upside of 5.97% from the company’s previous close.

NNN has been the topic of several other reports. Royal Bank of Canada dropped their price target on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Barclays initiated coverage on NNN REIT in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 target price on the stock. Jefferies Financial Group lowered NNN REIT from a “buy” rating to a “hold” rating and reduced their price target for the company from $52.00 to $43.00 in a report on Thursday, January 2nd. StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.50.

NNN REIT Stock Performance

Shares of NNN opened at $39.64 on Friday. The company has a 50-day moving average of $41.08 and a two-hundred day moving average of $44.54. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.97 and a beta of 1.11. 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 one year low of $37.55 and a one year high of $49.57.

Insiders Place Their Bets

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were 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. This represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted 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 worth $110,000 after purchasing an additional 280 shares during the period. GAMMA Investing LLC boosted its position in shares of NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 553 shares in the last quarter. DGS Capital Management LLC acquired a new stake in shares of NNN REIT during the 3rd quarter valued at about $236,000. Everence Capital Management Inc. bought a new stake in NNN REIT in the fourth quarter valued at about $206,000. Finally, Steph & Co. raised its position in NNN REIT by 8.2% in the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 429 shares in the last quarter. Institutional investors 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.