Evercore ISI Begins Coverage on NNN REIT (NYSE:NNN)

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

NNN has been the topic of a number of other reports. BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research report on Monday, November 4th. Robert W. Baird increased their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT in a research note on Wednesday, December 11th. They issued a “hold” rating and a $46.00 target price on the stock. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group downgraded NNN REIT from a “buy” rating to a “hold” rating and reduced their target price for the stock from $52.00 to $43.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.50.

NNN REIT Stock Up 0.6 %

Shares of NYSE NNN opened at $39.64 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. NNN REIT has a 1 year low of $37.55 and a 1 year high of $49.57. The stock’s 50-day simple moving average is $41.08 and its 200-day simple moving average is $44.54. The firm 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.

Insider Activity at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On NNN REIT

A number of institutional investors have recently added to or reduced their stakes in NNN. Pathway Financial Advisers LLC raised its stake in shares of NNN REIT by 12.0% in the 4th quarter. Pathway Financial Advisers LLC now owns 12,840 shares of the real estate investment trust’s stock worth $525,000 after buying an additional 1,374 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in NNN REIT in the fourth quarter worth about $527,000. DGS Capital Management LLC lifted its holdings in NNN REIT by 9.5% in the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $218,000 after acquiring an additional 461 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after purchasing an additional 30,146 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of NNN REIT by 3,469.0% in the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock worth $3,729,000 after purchasing an additional 88,736 shares in 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.