NNN REIT (NYSE:NNN) Downgraded to Underperform Rating by BNP Paribas

BNP Paribas downgraded shares of NNN REIT (NYSE:NNN) from a neutral rating to an underperform rating in a research note released on Monday, Marketbeat Ratings reports. BNP Paribas currently has $44.00 price target on the real estate investment trust’s stock.

A number of other analysts have also recently commented on NNN. StockNews.com cut NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Robert W. Baird upped 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. B. Riley lifted their target price on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. Finally, Raymond James raised their price target on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.14.

NNN REIT Trading Down 3.2 %

NNN stock opened at $41.45 on Monday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. NNN REIT has a 52-week low of $37.69 and a 52-week high of $49.57. The company’s 50-day simple moving average is $47.56 and its 200-day simple moving average is $44.83. The firm has a market cap of $7.77 billion, a P/E ratio of 19.19, a PEG ratio of 3.46 and a beta of 1.10.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date of this dividend is Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is 107.41%.

Institutional Investors Weigh In On NNN REIT

Institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC purchased a new stake in NNN REIT during the first quarter worth about $34,000. Bruce G. Allen Investments LLC increased its stake in NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares during the period. Versant Capital Management Inc purchased a new stake in NNN REIT during the 2nd quarter worth approximately $59,000. Farther Finance Advisors LLC boosted its position 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 valued at $110,000 after buying an additional 280 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of NNN REIT by 93.2% in the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 1,123 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.