NNN REIT (NYSE:NNN) Lowered to Hold Rating by Jefferies Financial Group

Jefferies Financial Group downgraded shares of NNN REIT (NYSE:NNN) from a buy rating to a hold rating in a research report sent to investors on Thursday, MarketBeat reports. The brokerage currently has $43.00 target price on the real estate investment trust’s stock, down from their previous target price of $52.00.

NNN has been the subject of several other reports. BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a report on Monday, November 4th. UBS Group cut their price objective on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. B. Riley decreased their target price on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price target (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.85.

NNN REIT Stock Down 1.8 %

Shares of NNN opened at $40.11 on Thursday. The company’s fifty day moving average is $42.65 and its two-hundred day moving average is $44.94. NNN REIT has a fifty-two week low of $38.88 and a fifty-two week high of $49.57. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The firm has a market cap of $7.52 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.78%. NNN REIT’s payout ratio is presently 107.41%.

Insiders Place Their Bets

In other news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently modified their holdings of the business. Nicholas Hoffman & Company LLC. boosted its position in NNN REIT by 1.8% during 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 period. Amalgamated Bank increased its holdings in NNN REIT by 4.1% in the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock worth $4,420,000 after acquiring an additional 4,088 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of 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 valued at $243,000 after purchasing an additional 1,414 shares during the period. Handelsbanken Fonder AB raised its stake in NNN REIT by 40.7% during 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 during the period. Finally, GAMMA Investing LLC raised its position in shares of NNN REIT by 23.8% during the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 553 shares during 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.