NNN REIT (NYSE:NNN) Research Coverage Started at Barclays

Barclays began coverage on shares of NNN REIT (NYSE:NNN) in a report published on Tuesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $48.00 price objective on the real estate investment trust’s stock.

NNN has been the subject of several other reports. Robert W. Baird raised their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. B. Riley dropped their price target on NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a research note on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price target for the company. Royal Bank of Canada dropped their target price on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.17.

NNN REIT Price Performance

Shares of NNN opened at $39.77 on Tuesday. The company’s 50-day moving average is $44.22 and its 200-day moving average is $45.04. 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 firm has a market capitalization of $7.46 billion, a PE ratio of 18.41, a PEG ratio of 2.16 and a beta of 1.10. NNN REIT has a fifty-two week low of $38.88 and a fifty-two week high of $49.57.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is 107.41%.

Insider Buying and Selling

In related news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction that occurred 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 sale, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NNN REIT

Large investors have recently modified their holdings of the business. Sound Income Strategies LLC grew its stake in shares of 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. Raymond James Trust N.A. grew its position in shares of 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 last quarter. Farther Finance Advisors LLC grew its position in shares of NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 280 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of NNN REIT by 17.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after buying an additional 28,476 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after acquiring an additional 15,100 shares during the last quarter. 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.