NNN REIT (NYSE:NNN) Downgraded by Janney Montgomery Scott to Neutral

NNN REIT (NYSE:NNN) was downgraded by equities research analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Finviz reports. They currently have a $43.00 price target on the real estate investment trust’s stock. Janney Montgomery Scott’s target price would suggest a potential upside of 9.64% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Robert W. Baird lifted their target price on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research report on Wednesday. Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and decreased their target price for the stock from $52.00 to $43.00 in a research report on Thursday, January 2nd. StockNews.com cut NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, BNP Paribas cut shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.79.

NNN REIT Trading Up 1.6 %

Shares of NYSE:NNN opened at $39.22 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.17 and a beta of 1.11. NNN REIT has a 1-year low of $37.55 and a 1-year high of $49.57. The company has a 50 day moving average price of $41.80 and a 200 day moving average price of $44.82.

Insiders Place Their Bets

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 value of $42,510.00. Following the completion of the sale, the executive vice president now owns 68,756 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NNN. Farther Finance Advisors LLC raised its position in shares of NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 280 shares during the period. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 553 shares during the period. DGS Capital Management LLC acquired a new stake in shares of NNN REIT in the third quarter valued at about $236,000. Everence Capital Management Inc. bought a new position in shares of NNN REIT in the fourth quarter worth about $206,000. Finally, Steph & Co. lifted its position in shares of NNN REIT by 8.2% during the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 429 shares during the last quarter. 89.96% of the stock is owned by 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.