NNN REIT (NYSE:NNN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of NNN REIT (NYSE:NNN) from a buy rating to a hold rating in a research report sent to investors on Monday.

Several other brokerages also recently weighed in on NNN. UBS Group boosted their target price on shares of NNN REIT from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Raymond James boosted their price objective 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. Royal Bank of Canada raised their target price on shares of NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 price target (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Finally, B. Riley raised their price objective on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, NNN REIT currently has an average rating of “Hold” and a consensus price target of $47.33.

NNN REIT Trading Down 5.5 %

Shares of NNN opened at $43.44 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. NNN REIT has a 1-year low of $35.47 and a 1-year high of $49.57. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 3.86 and a beta of 1.09. The firm has a 50 day simple moving average of $47.78 and a 200-day simple moving average of $44.69.

NNN REIT (NYSE:NNN) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.24). The company had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. Equities analysts forecast that NNN REIT will post 3.3 EPS for the current fiscal year.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.34%. NNN REIT’s dividend payout ratio is presently 104.50%.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the completion of the sale, the executive vice president now owns 69,756 shares of the company’s stock, valued at approximately $3,270,161.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NNN. LRI Investments LLC acquired a new stake in shares of NNN REIT in the first quarter worth $34,000. Bruce G. Allen Investments LLC increased its holdings in NNN REIT by 1,276.8% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,047 shares in the last quarter. Versant Capital Management Inc purchased a new position in NNN REIT in the second quarter valued at about $59,000. GAMMA Investing LLC lifted its stake in shares of NNN REIT by 93.2% during the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 1,123 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of 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 buying an additional 280 shares during the period. 89.96% of the stock is 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.