Royal Bank of Canada Issues Pessimistic Forecast for NNN REIT (NYSE:NNN) Stock Price

NNN REIT (NYSE:NNN) had its price target cut by stock analysts at Royal Bank of Canada from $45.00 to $43.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.47% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Evercore ISI initiated coverage on shares of NNN REIT in a research report on Friday, January 31st. They set an “inline” rating and a $42.00 target price for the company. Jefferies Financial Group downgraded shares of NNN REIT from a “buy” rating to a “hold” rating and decreased their price target for the stock from $52.00 to $43.00 in a research note on Thursday, January 2nd. UBS Group decreased their price target on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Barclays decreased their price target on shares of NNN REIT from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of NNN REIT in a research note on Wednesday, December 11th. They set a “hold” rating and a $46.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, NNN REIT currently has an average rating of “Hold” and an average target price of $45.19.

NNN REIT Trading Up 2.7 %

Shares of NNN REIT stock opened at $40.77 on Wednesday. NNN REIT has a 1 year low of $37.55 and a 1 year high of $49.57. The firm has a market cap of $7.65 billion, a PE ratio of 18.88, a PEG ratio of 1.94 and a beta of 1.11. 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 company has a 50 day simple moving average of $40.18 and a two-hundred day simple moving average of $44.09.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC purchased a new position in NNN REIT during the 4th quarter valued at $42,000. Goodman Financial Corp boosted its holdings in shares of NNN REIT by 3.1% during the 4th quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock valued at $12,219,000 after buying an additional 9,054 shares in the last quarter. Cibc World Markets Corp boosted its holdings in shares of NNN REIT by 12.4% during the 4th quarter. Cibc World Markets Corp now owns 54,572 shares of the real estate investment trust’s stock valued at $2,229,000 after buying an additional 6,035 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 4,449 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of 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 buying an additional 305 shares in the last quarter. 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.