NNN REIT (NYSE:NNN) Stock Rating Lowered by Jefferies Financial Group

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

A number of other research analysts have also recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Royal Bank of Canada cut their price target 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. UBS Group dropped their target price on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. BNP Paribas downgraded shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a research report on Monday, November 4th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.85.

NNN REIT Trading Down 1.8 %

NYSE NNN opened at $40.11 on Thursday. The firm has a market cap of $7.52 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. NNN REIT has a 52 week low of $38.88 and a 52 week 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 company has a 50 day moving average price of $42.65 and a 200 day moving average price of $44.94.

NNN REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.58 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.78%. NNN REIT’s dividend payout ratio is currently 107.41%.

Insiders Place Their Bets

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’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 transaction, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position 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 buying an additional 280 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 during the last quarter. DGS Capital Management LLC acquired a new stake in shares of NNN REIT during the third quarter worth $236,000. Pathway Financial Advisers LLC raised its position in shares of NNN REIT by 32.9% in the 2nd 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 in the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its stake in shares of NNN REIT by 1.8% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock valued at $568,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

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.