NNN REIT (NYSE:NNN) Upgraded by Morgan Stanley to “Overweight” Rating

Morgan Stanley upgraded shares of NNN REIT (NYSE:NNN) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, Marketbeat reports. They currently have $48.00 price target on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on NNN. Jefferies Financial Group lowered NNN REIT from a “buy” rating to a “hold” rating and lowered their target price for the company from $52.00 to $43.00 in a research note on Thursday, January 2nd. UBS Group lowered their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a research report on Monday, November 4th. Finally, Barclays initiated coverage on NNN REIT in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.79.

NNN REIT Trading Up 0.3 %

NYSE NNN opened at $39.56 on Wednesday. NNN REIT has a 1-year low of $37.55 and a 1-year high of $49.57. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average of $41.69 and a 200-day moving average of $44.76. The firm has a market cap of $7.42 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.58 per share. The ex-dividend date is Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.86%. NNN REIT’s payout ratio is 107.41%.

Insider Activity

In related 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 value of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares in the company, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NNN. Amalgamated Bank raised its stake in shares of NNN REIT by 4.1% during the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after acquiring an additional 4,088 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in NNN REIT by 32.9% in the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 1,414 shares in the last quarter. Handelsbanken Fonder AB raised its stake in NNN REIT by 40.7% in the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after buying an additional 15,100 shares in the last quarter. GAMMA Investing LLC raised its stake 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 worth $140,000 after buying an additional 553 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in NNN REIT by 19.0% in 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 purchasing an additional 50,213 shares during the last quarter. Hedge funds and other 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.