Stock analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT (NYSE:NNN - Get Free Report) in a research note issued on Wednesday, Marketbeat.com reports. The firm set a "hold" rating and a $46.00 price target on the real estate investment trust's stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 8.34% from the stock's current price.
A number of other research analysts have also recently issued reports on the stock. Raymond James increased their target price on shares of NNN REIT from $47.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, August 21st. UBS Group reduced their price objective on NNN REIT from $49.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Royal Bank of Canada lowered their target price on NNN REIT from $48.00 to $45.00 and set a "sector perform" rating on the stock in a report on Friday, November 1st. B. Riley cut their price target on NNN REIT from $49.00 to $46.50 and set a "buy" rating for the company in a research note on Wednesday, December 4th. Finally, StockNews.com cut shares of NNN REIT from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, NNN REIT presently has a consensus rating of "Hold" and an average price target of $45.94.
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NNN REIT Price Performance
NNN REIT stock traded up $0.06 during midday trading on Wednesday, reaching $42.46. The company's stock had a trading volume of 1,143,180 shares, compared to its average volume of 1,173,967. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. NNN REIT has a fifty-two week low of $38.88 and a fifty-two week high of $49.57. The firm has a market capitalization of $7.96 billion, a PE ratio of 19.63, a P/E/G ratio of 2.16 and a beta of 1.10. The stock's 50 day simple moving average is $45.07 and its 200 day simple moving average is $45.07.
Insider Transactions at NNN REIT
In related news, EVP Michelle Lynn Miller sold 1,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 68,756 shares in the company, valued at approximately $2,922,817.56. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.82% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of NNN. Sound Income Strategies LLC increased its holdings in shares of NNN REIT by 19.0% during the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust's stock worth $15,280,000 after buying an additional 50,213 shares during the last quarter. Raymond James Trust N.A. increased its stake in NNN REIT by 19.6% during the second quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust's stock worth $550,000 after acquiring an additional 2,120 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust's stock worth $110,000 after purchasing an additional 280 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of NNN REIT by 17.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust's stock worth $9,134,000 after purchasing an additional 28,476 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of NNN REIT by 40.7% in 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 in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.
About NNN REIT
(
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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.
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