Barclays Forecasts Strong Price Appreciation for NNN REIT (NYSE:NNN) Stock

NNN REIT (NYSE:NNN) had its price target raised by stock analysts at Barclays from $46.00 to $47.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 9.21% from the stock’s previous close.

A number of other research firms also recently commented on NNN. Royal Bank of Canada decreased their target price on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 12th. Janney Montgomery Scott downgraded NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Wednesday, January 15th. Morgan Stanley raised shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a report on Wednesday, January 15th. BNP Paribas downgraded shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target on the stock. in a research note on Monday, November 4th. Finally, Jefferies Financial Group cut shares of NNN REIT from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $52.00 to $43.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, NNN REIT currently has an average rating of “Hold” and an average price target of $45.00.

NNN REIT Stock Performance

Shares of NYSE NNN opened at $43.04 on Tuesday. The company has a market cap of $8.07 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.06 and a beta of 1.10. NNN REIT has a 52-week low of $37.55 and a 52-week high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. The firm’s fifty day moving average is $40.24 and its two-hundred day moving average is $43.67.

Insider Activity

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction 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 owns 68,756 shares in the company, valued at $2,922,817.56. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently made changes to their positions in NNN. Farther Finance Advisors LLC increased its stake in NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 280 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in NNN REIT by 17.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after acquiring an additional 28,476 shares in the last quarter. Strengthening Families & Communities LLC increased its position in shares of NNN REIT by 7.1% during the third quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock worth $3,066,000 after acquiring an additional 4,170 shares during the period. Goodman Financial Corp raised its stake in shares of NNN REIT by 1.2% during the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after acquiring an additional 3,388 shares in the last quarter. Finally, DGS Capital Management LLC purchased a new stake in shares of NNN REIT in the third quarter valued at 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.