StockNews.com Downgrades NNN REIT (NYSE:NNN) to Hold

NNN REIT (NYSE:NNN) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other brokerages have also issued reports on NNN. Raymond James increased their price objective on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Royal Bank of Canada raised their target price on shares of NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. B. Riley lifted their price target on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Finally, UBS Group raised their price objective on NNN REIT from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, NNN REIT presently has a consensus rating of “Hold” and a consensus price target of $47.33.

NNN REIT Stock Performance

Shares of NYSE NNN opened at $46.14 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. NNN REIT has a 1 year low of $34.61 and a 1 year high of $49.57. The firm has a fifty day moving average price of $47.83 and a 200-day moving average price of $44.69. The stock has a market cap of $8.47 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 3.86 and a beta of 1.09.

NNN REIT (NYSE:NNN) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The business had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter in the previous year, the company posted $0.80 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that NNN REIT will post 3.3 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the sale, the executive vice president now owns 69,756 shares in the company, valued at approximately $3,270,161.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several institutional investors have recently added to or reduced their stakes in NNN. LRI Investments LLC purchased a new stake in shares of NNN REIT in the first quarter worth approximately $34,000. Bruce G. Allen Investments LLC increased its stake in NNN REIT by 1,276.8% in the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,047 shares during the period. Versant Capital Management Inc purchased a new stake in NNN REIT in the second quarter worth $59,000. Farther Finance Advisors LLC lifted its position in shares of NNN REIT by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 280 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of NNN REIT by 93.2% during the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 1,123 shares during the period. 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.