Barclays Lowers NNN REIT (NYSE:NNN) Price Target to $46.00

NNN REIT (NYSE:NNN - Free Report) had its target price decreased by Barclays from $48.00 to $46.00 in a report published on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust's stock.

NNN has been the topic of several other reports. Evercore ISI initiated coverage on NNN REIT in a research report on Friday, January 31st. They issued an "inline" rating and a $42.00 target price on the stock. Janney Montgomery Scott downgraded 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. Robert W. Baird boosted 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. B. Riley cut their price target on shares of NNN REIT from $49.00 to $46.50 and set a "buy" rating on the stock in a report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of NNN REIT from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, NNN REIT presently has an average rating of "Hold" and a consensus price target of $45.35.

NNN REIT Trading Down 0.6 %

Shares of NNN traded down $0.23 during mid-day trading on Tuesday, hitting $38.59. The company had a trading volume of 1,103,805 shares, compared to its average volume of 1,008,751. The stock has a market cap of $7.24 billion, a PE ratio of 17.87, a P/E/G ratio of 1.97 and a beta of 1.11. The business's 50-day simple moving average is $40.47 and its 200-day simple moving average is $44.25. NNN REIT has a 1-year low of $37.55 and a 1-year 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.

NNN REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 6.01%. The ex-dividend date is Friday, January 31st. NNN REIT's dividend payout ratio is currently 107.41%.

Insiders Place Their Bets

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the business's stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NNN REIT

A number of hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its holdings in shares of NNN REIT by 43.3% during the fourth 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 during the period. Farther Finance Advisors LLC grew its position in shares of NNN REIT by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust's stock valued at $110,000 after buying an additional 280 shares during the last quarter. GAMMA Investing LLC raised its stake 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 worth $140,000 after acquiring an additional 553 shares during the period. Everence Capital Management Inc. bought a new position in NNN REIT in the fourth quarter worth about $206,000. Finally, DGS Capital Management LLC boosted its stake in NNN REIT by 9.5% in the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust's stock valued at $218,000 after acquiring an additional 461 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

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.