NNN REIT (NYSE:NNN) Price Target Raised to $47.00 at Barclays

NNN REIT (NYSE:NNN - Get Free Report) had its price objective hoisted by equities researchers at Barclays from $46.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Barclays's price target suggests a potential upside of 9.21% from the company's previous close.

NNN has been the subject of a number of other reports. Royal Bank of Canada decreased their price target on NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a report on Wednesday, February 12th. Janney Montgomery Scott downgraded shares of NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 price objective on the stock. in a report on Wednesday, January 15th. B. Riley restated a "neutral" rating and issued a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Jefferies Financial Group lowered shares of NNN REIT from a "buy" rating to a "hold" rating and dropped their price target for the company from $52.00 to $43.00 in a research report on Thursday, January 2nd. Finally, Morgan Stanley raised shares of NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 price objective for the company in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, NNN REIT has an average rating of "Hold" and a consensus price target of $45.00.

NNN REIT Trading Up 1.4 %

Shares of NNN traded up $0.60 during trading hours on Tuesday, hitting $43.04. 1,371,596 shares of the stock were exchanged, compared to its average volume of 1,078,714. NNN REIT has a fifty-two week low of $37.55 and a fifty-two week high of $49.57. The business has a 50-day moving average of $40.19 and a 200-day moving average of $43.68. The firm has a market capitalization of $8.07 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55.

Insiders Place Their Bets

In related 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 sale, the executive vice president now directly owns 68,756 shares in the company, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On NNN REIT

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in 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 acquiring an additional 280 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 305 shares in the last quarter. Steph & Co. increased 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 valued at $231,000 after purchasing an additional 429 shares during the last quarter. DGS Capital Management LLC raised its holdings in shares of NNN REIT by 9.5% during the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust's stock valued at $218,000 after buying an additional 461 shares in the last quarter. Finally, Putney Financial Group LLC bought a new stake in NNN REIT in the 4th quarter worth approximately $38,000. 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.