NNN REIT (NYSE:NNN) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of NNN REIT (NYSE:NNN) from a buy rating to a hold rating in a report published on Monday morning.

Several other research firms also recently weighed in on NNN. UBS Group boosted their target price on shares of NNN REIT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Raymond James upped their price objective on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Royal Bank of Canada increased their target price on NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 price target (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Finally, B. Riley raised their price objective on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.33.

NNN REIT Price Performance

Shares of NYSE NNN opened at $43.44 on Monday. The business has a 50 day moving average price of $47.78 and a two-hundred day moving average price of $44.69. NNN REIT has a fifty-two week low of $35.47 and a fifty-two week high of $49.57. The firm has a market cap of $7.98 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 3.86 and a beta of 1.09. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

NNN REIT (NYSE:NNN) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The company had revenue of $216.81 million for the quarter, compared to analyst estimates of $212.30 million. During the same period in the previous year, the business posted $0.80 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that NNN REIT will post 3.3 earnings per share for the current fiscal year.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Thursday, October 31st. NNN REIT’s payout ratio is 104.50%.

Insider Buying and Selling

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the completion of the transaction, the executive vice president now directly owns 69,756 shares in the company, valued at $3,270,161.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of NNN REIT during the first quarter valued at approximately $34,000. Bruce G. Allen Investments LLC increased its position in 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 acquiring an additional 1,047 shares during the period. Versant Capital Management Inc bought a new stake in NNN REIT during the 2nd quarter valued at $59,000. GAMMA Investing LLC boosted its position in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 1,123 shares during the period. Finally, Farther Finance Advisors LLC boosted 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 worth $110,000 after acquiring an additional 280 shares during the period. Institutional investors own 89.96% of the company’s stock.

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.