NNN REIT (NYSE:NNN) Coverage Initiated at Barclays

Barclays initiated coverage on shares of NNN REIT (NYSE:NNN) in a research note released on Tuesday, Marketbeat.com reports. The firm issued an overweight rating and a $48.00 price objective on the real estate investment trust’s stock.

A number of other brokerages have also commented on NNN. Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a research report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective on the stock. UBS Group decreased their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. B. Riley dropped their price objective on NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a report on Wednesday, December 4th. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.17.

NNN REIT Price Performance

NNN opened at $41.89 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. The stock has a market capitalization of $7.86 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The company’s 50 day simple moving average is $44.51 and its 200-day simple moving average is $45.11. NNN REIT has a one year low of $38.88 and a one year high of $49.57.

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.58 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 annualized dividend and a yield of 5.54%. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Insider Activity

In other news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following 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 document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NNN. Sound Income Strategies LLC raised its holdings in shares of NNN REIT by 19.0% during the third quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after acquiring an additional 50,213 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in NNN REIT by 17.8% during 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 purchasing an additional 28,476 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after purchasing an additional 15,100 shares during the period. DGS Capital Management LLC bought a new stake in shares of NNN REIT in the third quarter valued at about $236,000. Finally, Strengthening Families & Communities LLC boosted 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 buying an additional 4,170 shares during the period. Institutional investors own 89.96% of the company’s stock.

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.