NNN REIT (NYSE:NNN) Downgraded by StockNews.com

NNN REIT (NYSE:NNN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

NNN has been the subject of several other reports. UBS Group increased their price objective on shares of NNN REIT from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. BNP Paribas raised shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price target for the company in a report on Thursday, May 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of NNN REIT from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.50.

NNN REIT Stock Down 0.7 %

NYSE:NNN traded down $0.31 during mid-day trading on Thursday, hitting $45.15. 1,183,413 shares of the company’s stock traded hands, compared to its average volume of 1,195,654. The company has a fifty day moving average of $42.76 and a 200 day moving average of $41.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.52 and a current ratio of 0.52. NNN REIT has a twelve month low of $34.38 and a twelve month high of $46.75. The company has a market capitalization of $8.28 billion, a P/E ratio of 20.71, a P/E/G ratio of 3.64 and a beta of 1.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its holdings in NNN REIT by 77.0% in the fourth quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 328 shares during the period. LRI Investments LLC acquired a new position in shares of NNN REIT in the 1st quarter valued at $34,000. First United Bank & Trust purchased a new stake in NNN REIT during the fourth quarter worth $39,000. GAMMA Investing LLC acquired a new stake in NNN REIT during the fourth quarter valued at $39,000. Finally, Riverview Trust Co purchased a new position in NNN REIT in the first quarter valued at $43,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.