NNN REIT (NYSE:NNN) Downgraded by Jefferies Financial Group to “Hold”

NNN REIT (NYSE:NNN) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $43.00 target price on the real estate investment trust’s stock, down from their prior target price of $52.00. Jefferies Financial Group’s target price points to a potential upside of 6.49% from the stock’s current price.

Other research analysts have also issued reports about the stock. BNP Paribas lowered shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a report on Monday, November 4th. UBS Group lowered their price objective on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays initiated coverage on NNN REIT in a report on Tuesday, December 17th. They set an “overweight” rating and a $48.00 target price on the stock. B. Riley lowered their target price on NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, StockNews.com cut NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.85.

NNN REIT Price Performance

NNN opened at $40.38 on Thursday. The stock’s 50 day moving average price is $42.53 and its 200-day moving average price is $44.93. NNN REIT has a 52-week low of $38.88 and a 52-week high of $49.57. The stock has a market capitalization of $7.57 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85.

Insider Transactions at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the transaction, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $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 is accessible through this link. 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 company. Sound Income Strategies LLC lifted its position in NNN REIT by 19.0% in the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock valued at $15,280,000 after acquiring an additional 50,213 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of NNN REIT by 17.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after purchasing an additional 28,476 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of NNN REIT by 40.7% in the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after purchasing an additional 15,100 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of NNN REIT during the fourth quarter valued at $206,000. Finally, DGS Capital Management LLC purchased a new stake in shares of NNN REIT during the third quarter valued at $236,000. 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.