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

Shares of NNN REIT, Inc. (NYSE:NNN) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $45.85.

A number of research analysts recently weighed in on NNN shares. Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 target price (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Barclays initiated coverage on shares of NNN REIT in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 price objective on the stock. Royal Bank of Canada reduced their target price on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Robert W. Baird boosted their price target on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Colliers Securities cut NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st.

Insider Activity at NNN REIT

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

Institutional Investors Weigh In On NNN REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank raised its holdings in shares of NNN REIT by 4.1% during the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock worth $4,420,000 after buying an additional 4,088 shares in the last quarter. Pathway Financial Advisers LLC grew its position in NNN REIT by 32.9% in the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 1,414 shares during the last quarter. Handelsbanken Fonder AB grew its position in NNN REIT by 40.7% in the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after acquiring an additional 15,100 shares during the last quarter. GAMMA Investing LLC raised its stake in NNN REIT by 23.8% during the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 553 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of NNN REIT by 19.0% in 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 acquiring an additional 50,213 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

NNN REIT Price Performance

Shares of NNN opened at $38.59 on Tuesday. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.17 and a beta of 1.11. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. The company’s fifty day simple moving average is $41.80 and its 200 day simple moving average is $44.82. NNN REIT has a 1-year low of $37.55 and a 1-year high of $49.57.

NNN REIT Company Profile

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.