NNN REIT (NYSE:NNN) Upgraded to Overweight at Morgan Stanley

NNN REIT (NYSE:NNN) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm currently has a $48.00 price target on the real estate investment trust’s stock. Morgan Stanley’s target price would indicate a potential upside of 20.11% from the company’s current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price target (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. UBS Group dropped their target price 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. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. BNP Paribas lowered shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research report on Monday, November 4th. Finally, B. Riley dropped their target price on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.79.

NNN REIT Stock Up 1.3 %

NNN stock opened at $39.96 on Wednesday. The firm has a market cap of $7.49 billion, a PE ratio of 18.50, a P/E/G ratio of 1.90 and a beta of 1.11. 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 firm’s fifty day moving average is $41.69 and its 200 day moving average is $44.76. NNN REIT has a one year low of $37.55 and a one year high of $49.57.

Insider Transactions at NNN REIT

In other NNN REIT 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 transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On NNN REIT

A number of institutional investors have recently bought and sold shares of the company. Steph & Co. raised its stake in NNN REIT by 8.2% during the fourth 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 period. Everence Capital Management Inc. purchased a new position in NNN REIT during the fourth quarter worth about $206,000. DGS Capital Management LLC purchased a new position in NNN REIT during the third quarter worth about $236,000. Goodman Financial Corp increased its position in shares of NNN REIT by 1.2% during the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after acquiring an additional 3,388 shares during the last quarter. Finally, Strengthening Families & Communities LLC increased its position in shares of NNN REIT by 7.1% during the third quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after acquiring an additional 4,170 shares during the last quarter. 89.96% of the stock is 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.