NNN REIT (NYSE:NNN) Receives “Neutral” Rating from B. Riley

B. Riley restated their neutral rating on shares of NNN REIT (NYSE:NNN) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $43.00 price target on the real estate investment trust’s stock, down from their prior price target of $46.50.

Several other research analysts also recently issued reports on NNN. 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. Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $52.00 to $43.00 in a report on Thursday, January 2nd. UBS Group decreased their target price on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Janney Montgomery Scott downgraded NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Wednesday, January 15th. Finally, Colliers Securities cut shares of NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.92.

NNN REIT Stock Up 1.0 %

NNN REIT stock opened at $40.86 on Tuesday. The firm has a market capitalization of $7.66 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.94 and a beta of 1.11. The stock’s fifty day simple moving average is $40.07 and its 200-day simple moving average is $43.95. NNN REIT has a twelve month low of $37.55 and a twelve month 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.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date was Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s 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 transaction, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at $2,922,817.56. This represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NNN REIT

Several large investors have recently made changes to their positions in NNN. Tudor Investment Corp ET AL bought a new position in NNN REIT during the fourth quarter valued at approximately $593,000. Pinebridge Investments L.P. raised its holdings in shares of NNN REIT by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust’s stock valued at $2,028,000 after purchasing an additional 14,850 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of NNN REIT in the 4th quarter valued at $42,000. Goodman Financial Corp increased its position in NNN REIT by 3.1% during the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock worth $12,219,000 after buying an additional 9,054 shares during the last quarter. Finally, Cibc World Markets Corp boosted its position in NNN REIT by 12.4% during the fourth quarter. Cibc World Markets Corp now owns 54,572 shares of the real estate investment trust’s stock worth $2,229,000 after purchasing an additional 6,035 shares during the period. 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.