NNN REIT (NYSE:NNN) Research Coverage Started at Evercore ISI

Evercore ISI assumed coverage on shares of NNN REIT (NYSE:NNN) in a report published on Friday, MarketBeat Ratings reports. The brokerage issued an inline rating and a $42.00 price objective on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on NNN. Robert W. Baird upped their price objective on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Royal Bank of Canada dropped their price objective on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Barclays started coverage on NNN REIT in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on NNN REIT in a research note on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective for the company. Finally, Janney Montgomery Scott downgraded NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Wednesday, January 15th. 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.50.

NNN REIT Stock Performance

NYSE:NNN opened at $39.37 on Friday. The stock has a 50-day simple moving average of $40.99 and a two-hundred day simple moving average of $44.48. NNN REIT has a 52-week low of $37.55 and a 52-week high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The firm has a market capitalization of $7.38 billion, a PE ratio of 18.23, a P/E/G ratio of 1.97 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. Investors of record on Friday, January 31st will be paid a $0.58 dividend. The ex-dividend date is Friday, January 31st. This represents a $2.32 annualized dividend and a yield of 5.89%. NNN REIT’s dividend payout ratio (DPR) is currently 107.41%.

Insider Buying and Selling at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction on 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 $2,922,817.56. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Several institutional investors have recently bought and sold shares of NNN. SG Americas Securities LLC lifted its stake in NNN REIT by 3,469.0% in the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock worth $3,729,000 after purchasing an additional 88,736 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of NNN REIT by 19.0% during the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock valued at $15,280,000 after buying an additional 50,213 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of 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 valued at $9,134,000 after buying an additional 28,476 shares during the period. Handelsbanken Fonder AB raised its position in shares of NNN REIT by 40.7% during 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 buying an additional 15,100 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of NNN REIT during the 4th quarter valued at approximately $527,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.