NNN REIT (NYSE:NNN) Downgraded by StockNews.com

StockNews.com lowered shares of NNN REIT (NYSE:NNN) from a buy rating to a hold rating in a report issued on Thursday.

A number of other equities analysts have also commented on NNN. UBS Group raised their price target on shares of NNN REIT from $41.00 to $46.00 and gave the stock a neutral rating in a research report on Thursday, July 18th. Wells Fargo & Company lowered their price target on shares of NNN REIT from $43.00 to $42.00 and set an equal weight rating on the stock in a research report on Thursday, May 30th. Finally, BNP Paribas raised shares of NNN REIT from an underperform rating to a neutral rating and set a $42.00 price target on the stock in a research report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $44.50.

NNN REIT Price Performance

NYSE:NNN opened at $45.52 on Thursday. NNN REIT has a 52 week low of $34.38 and a 52 week high of $46.75. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 3.59 and a beta of 1.07. The firm’s 50-day simple moving average is $42.82 and its 200 day simple moving average is $41.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.52 and a current ratio of 0.52.

NNN REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a $0.58 dividend. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Wednesday, July 31st. NNN REIT’s dividend payout ratio (DPR) is currently 103.67%.

Hedge Funds Weigh In On NNN REIT

Several hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. increased its holdings in NNN REIT by 19.6% in the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 2,120 shares during the period. LRI Investments LLC boosted its stake in shares of NNN REIT by 100.6% in the 2nd quarter. LRI Investments LLC now owns 1,613 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 809 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of NNN REIT by 451.3% in the 2nd quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock valued at $11,285,000 after purchasing an additional 216,855 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of NNN REIT by 1,276.8% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of NNN REIT in the 2nd quarter valued at approximately $59,000. 89.96% of the stock is owned by 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.