NNN REIT (NYSE:NNN) Given New $47.00 Price Target at Barclays

NNN REIT (NYSE:NNN) had its price target boosted by Barclays from $46.00 to $47.00 in a research note released on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on NNN. Deutsche Bank Aktiengesellschaft initiated 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. Robert W. Baird boosted their price target on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Royal Bank of Canada reduced their price target on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. Morgan Stanley raised NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research note on Wednesday, January 15th. Finally, UBS Group dropped their target price on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.00.

NNN REIT Stock Down 0.9 %

NNN opened at $42.45 on Tuesday. The firm has a market cap of $7.96 billion, a P/E ratio of 19.74, a PEG ratio of 2.06 and a beta of 1.11. The business’s fifty day simple moving average is $40.19 and its 200 day simple moving average is $43.68. NNN REIT has a 52 week low of $37.55 and a 52 week high of $49.57. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 annualized dividend and a yield of 5.47%. NNN REIT’s payout ratio is 107.91%.

Insider Transactions at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now owns 68,756 shares in the company, valued at $2,922,817.56. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Several hedge funds have recently modified their holdings of NNN. Putney Financial Group LLC acquired a new stake in NNN REIT in the fourth quarter valued at approximately $38,000. Lindbrook Capital LLC boosted its stake in shares of NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 305 shares during the period. Millstone Evans Group LLC purchased a new position in shares of NNN REIT in the fourth quarter valued at $42,000. Farther Finance Advisors LLC lifted its holdings in 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 worth $110,000 after buying an additional 280 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in NNN REIT by 882.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 4,449 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

About NNN REIT

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.