NNN REIT (NYSE:NNN) Given New $43.00 Price Target at Royal Bank of Canada

NNN REIT (NYSE:NNN) had its price objective reduced by equities research analysts at Royal Bank of Canada from $45.00 to $43.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 8.45% from the company’s current price.

Several other research analysts have also weighed in on the stock. B. Riley lowered their target price on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Robert W. Baird upped their price target on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Janney Montgomery Scott cut NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Wednesday, January 15th. StockNews.com lowered NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Morgan Stanley raised NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.19.

NNN REIT Price Performance

NNN stock traded down $0.59 on Wednesday, reaching $39.65. 905,186 shares of the company’s stock were exchanged, compared to its average volume of 1,137,873. NNN REIT has a twelve month low of $37.55 and a twelve month high of $49.57. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The stock has a fifty day moving average of $40.30 and a 200-day moving average of $44.14. The firm has a market cap of $7.44 billion, a PE ratio of 18.38, a P/E/G ratio of 1.94 and a beta of 1.11.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction 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. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of NNN REIT

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its stake in 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 valued at $110,000 after purchasing an additional 280 shares in the last quarter. Lindbrook Capital LLC lifted its stake in NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 305 shares in the last quarter. Steph & Co. increased its position in shares of NNN REIT by 8.2% during the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 429 shares in the last quarter. DGS Capital Management LLC raised its holdings in shares of NNN REIT by 9.5% during the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock worth $218,000 after acquiring an additional 461 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in NNN REIT in the 4th quarter valued at $42,000. 89.96% of the stock is 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.