NNN REIT (NYSE:NNN) Earns Neutral Rating from B. Riley

NNN REIT (NYSE:NNN)‘s stock had its “neutral” rating reissued by analysts at B. Riley in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $43.00 price target on the real estate investment trust’s stock, down from their previous price target of $46.50. B. Riley’s price target would suggest a potential upside of 5.10% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Morgan Stanley raised shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a report on Wednesday, January 15th. UBS Group reduced their target price on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Evercore ISI initiated coverage on shares of NNN REIT in a report on Friday, January 31st. They set an “inline” rating and a $42.00 target price on the stock. Colliers Securities cut shares of NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. Finally, StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.92.

NNN REIT Price Performance

NNN stock opened at $40.92 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. NNN REIT has a 52 week low of $37.55 and a 52 week high of $49.57. The firm’s fifty day moving average is $40.03 and its 200 day moving average is $43.93. The firm has a market cap of $7.67 billion, a P/E ratio of 19.03, a P/E/G ratio of 2.02 and a beta of 1.11.

Insider Transactions at NNN REIT

In related 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 transaction 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 $2,922,817.56. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Lindbrook Capital LLC lifted its position in NNN REIT by 43.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 305 shares during the period. Millstone Evans Group LLC purchased a new position in NNN REIT during the 4th quarter valued at about $42,000. Farther Finance Advisors LLC lifted its position in 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 period. DGS Capital Management LLC purchased a new position in NNN REIT during the 3rd quarter valued at about $236,000. Finally, EverSource Wealth Advisors LLC lifted its position in NNN REIT by 882.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 4,449 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.