NNN REIT (NYSE:NNN) Downgraded to “Neutral” Rating by Janney Montgomery Scott

NNN REIT (NYSE:NNN) was downgraded by research analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat reports. They currently have a $43.00 price target on the real estate investment trust’s stock. Janney Montgomery Scott’s price target points to a potential upside of 7.60% from the company’s previous close.

A number of other analysts have also issued reports on NNN. Deutsche Bank Aktiengesellschaft assumed coverage on NNN REIT in a research report on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price on the stock. UBS Group dropped their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. B. Riley lowered 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. 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 report on Monday, November 4th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.79.

NNN REIT Price Performance

NNN stock opened at $39.96 on Wednesday. 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 $37.55 and a 1 year high of $49.57. The stock has a 50-day simple moving average of $41.69 and a 200-day simple moving average of $44.76. The firm has a market cap of $7.49 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11.

Insider Transactions at NNN REIT

In other NNN REIT 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 value of $42,510.00. Following the completion of the sale, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its position in shares of NNN REIT by 14.1% during the 3rd 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 last quarter. GAMMA Investing LLC grew its stake in NNN REIT by 23.8% in the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 553 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in NNN REIT in the fourth quarter valued at approximately $206,000. Steph & Co. increased its position in 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 buying an additional 429 shares during the last quarter. Finally, DGS Capital Management LLC acquired a new stake in NNN REIT in the 3rd quarter worth approximately $236,000. 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.