NNN REIT (NYSE:NNN) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of NNN REIT (NYSE:NNN) from a buy rating to a hold rating in a report released on Thursday, Marketbeat.com reports. They currently have $43.00 price target on the real estate investment trust’s stock, down from their prior price target of $52.00.

A number of other brokerages also recently issued reports on NNN. StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Barclays assumed coverage on shares of NNN REIT in a research report on Tuesday, December 17th. They set an “overweight” rating and a $48.00 price target for the company. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. Robert W. Baird lifted their price objective on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $50.00 price target (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.85.

NNN REIT Trading Up 0.7 %

Shares of NNN REIT stock opened at $40.38 on Thursday. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10. NNN REIT has a 52-week low of $38.88 and a 52-week high of $49.57. The company’s 50-day simple moving average is $42.53 and its 200-day simple moving average is $44.94. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Insider Buying and Selling at NNN REIT

In other 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 owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nicholas Hoffman & Company LLC. boosted its position in NNN REIT by 1.8% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock valued at $568,000 after buying an additional 240 shares during the last quarter. Amalgamated Bank grew its stake in NNN REIT by 4.1% during the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after purchasing an additional 4,088 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in NNN REIT by 32.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 1,414 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of NNN REIT by 40.7% in 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 purchasing an additional 15,100 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 553 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.