Colliers Securities Downgrades NNN REIT (NYSE:NNN) to Neutral

Colliers Securities cut shares of NNN REIT (NYSE:NNN) from a buy rating to a neutral rating in a report released on Friday morning, MarketBeat reports.

A number of other equities analysts have also recently issued reports on NNN. StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. UBS Group boosted their target price on NNN REIT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 target price (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. Royal Bank of Canada lowered their target price on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday. Finally, B. Riley upped their price target on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.17.

NNN REIT Trading Down 0.1 %

NYSE:NNN traded down $0.04 on Friday, hitting $43.40. 1,533,581 shares of the stock were exchanged, compared to its average volume of 1,154,658. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. NNN REIT has a fifty-two week low of $37.69 and a fifty-two week high of $49.57. The stock has a market cap of $7.97 billion, a PE ratio of 19.55, a PEG ratio of 3.66 and a beta of 1.09. The stock has a fifty day moving average of $47.71 and a 200-day moving average of $44.71.

NNN REIT (NYSE:NNN) last posted its 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). The company had revenue of $216.81 million during the quarter, compared to analyst estimates of $212.30 million. NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. NNN REIT’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. As a group, equities analysts expect that NNN REIT will post 3.3 earnings per share for the current fiscal year.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.32 annualized dividend and a yield of 5.35%. NNN REIT’s dividend payout ratio is 104.50%.

Insider Buying and Selling at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total transaction of $187,520.00. Following the transaction, the executive vice president now directly 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 document filed 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 hedge funds have recently bought and sold shares of NNN. Nicholas Hoffman & Company LLC. raised its position in shares of NNN REIT by 1.8% in the second quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock valued at $568,000 after buying an additional 240 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 worth $110,000 after acquiring an additional 280 shares during the period. GAMMA Investing LLC lifted its holdings 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 buying an additional 553 shares during the period. LRI Investments LLC bought a new stake in shares of NNN REIT during the 1st quarter valued at about $34,000. Finally, Bruce G. Allen Investments LLC lifted 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 valued at $48,000 after buying an additional 1,047 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Company Profile

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.