Jefferies Financial Group Downgrades NNN REIT (NYSE:NNN) to Hold

Jefferies Financial Group cut shares of NNN REIT (NYSE:NNN) from a buy rating to a hold rating in a report issued on Thursday morning, MarketBeat reports. The firm currently has $43.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $52.00.

Several other equities analysts have also recently commented on the stock. BNP Paribas cut shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research note on Monday, November 4th. StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price on the stock. Barclays initiated coverage on shares of NNN REIT in a report on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 price target for the company. Finally, B. Riley cut their target price on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.85.

NNN REIT Stock Performance

Shares of NNN opened at $40.38 on Thursday. 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 $38.88 and a 1 year high of $49.57. The firm has a fifty day moving average of $42.53 and a 200-day moving average of $44.94. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is 107.41%.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NNN REIT

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its holdings in NNN REIT by 14.1% during 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 acquiring an additional 280 shares during the period. GAMMA Investing LLC grew its holdings in NNN REIT by 23.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 553 shares during the last quarter. DGS Capital Management LLC acquired a new position in shares of NNN REIT during the third quarter worth approximately $236,000. Everence Capital Management Inc. bought a new stake in shares of NNN REIT in the fourth quarter valued at approximately $206,000. Finally, Pathway Financial Advisers LLC increased its position in NNN REIT by 32.9% during the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 1,414 shares during the period. 89.96% of the stock is currently owned by institutional investors.

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.