NNN REIT (NYSE:NNN) Stock Rating Lowered by Colliers Securities

NNN REIT (NYSE:NNN) was downgraded by equities research analysts at Colliers Securities from a “buy” rating to a “neutral” rating in a research note issued on Friday, Marketbeat.com reports.

A number of other analysts have also recently issued reports on the company. Royal Bank of Canada decreased their target price on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday. StockNews.com cut NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. 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 report on Tuesday, October 1st. Raymond James upped their price target on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, B. Riley upped their price target on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.17.

NNN REIT Stock Down 0.1 %

NNN opened at $43.40 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 3.66 and a beta of 1.10. The business has a 50-day moving average of $47.71 and a two-hundred day moving average of $44.71. NNN REIT has a 12 month low of $37.69 and a 12 month high of $49.57.

NNN REIT (NYSE:NNN) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The business had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter last year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts expect that NNN REIT will post 3.3 earnings per share for the current year.

Insider Buying and Selling at NNN REIT

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the sale, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at approximately $3,270,161.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NNN REIT

Several large investors have recently added to or reduced their stakes in NNN. SG Americas Securities LLC increased its position in NNN REIT by 95.5% in the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock worth $2,724,000 after buying an additional 31,141 shares during the period. LRI Investments LLC acquired a new stake in NNN REIT in the first quarter worth $69,000. Pathway Financial Advisers LLC bought a new position in shares of NNN REIT in the first quarter worth $184,000. 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 purchasing an additional 1,123 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of NNN REIT in the second quarter worth $59,000. 89.96% of the stock is 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.