NNN REIT (NYSE:NNN) Stock Rating Lowered by Janney Montgomery Scott

Janney Montgomery Scott lowered shares of NNN REIT (NYSE:NNN - Free Report) from a buy rating to a neutral rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has $43.00 price target on the real estate investment trust's stock.

Several other research analysts have also issued reports on the stock. StockNews.com lowered shares of NNN REIT from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. B. Riley reduced their price objective on NNN REIT from $49.00 to $46.50 and set a "buy" rating on the stock in a research report on Wednesday, December 4th. Colliers Securities downgraded NNN REIT from a "buy" rating to a "neutral" rating in a research report on Friday, November 1st. Finally, Barclays began coverage on shares of NNN REIT in a research report on Tuesday, December 17th. They set an "overweight" rating and a $48.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, NNN REIT has an average rating of "Hold" and a consensus target price of $45.79.

NNN REIT Price Performance

NNN stock traded up $0.23 during midday trading on Wednesday, reaching $39.45. The company had a trading volume of 935,452 shares, compared to its average volume of 1,086,850. The firm has a 50-day moving average price of $41.73 and a 200-day moving average price of $44.80. The company has a market capitalization of $7.40 billion, a P/E ratio of 18.26, a P/E/G 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 debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.58 per share. The ex-dividend date is Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.88%. NNN REIT's dividend payout ratio is currently 107.41%.

Insider Buying and Selling at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the company'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 transaction of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares of the company's stock, valued at $2,922,817.56. This represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NNN REIT

A number of large investors have recently made changes to their positions in NNN. Farther Finance Advisors LLC lifted 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 worth $110,000 after acquiring an additional 280 shares during the period. GAMMA Investing LLC raised its holdings in NNN REIT by 23.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust's stock worth $140,000 after purchasing an additional 553 shares in the last quarter. DGS Capital Management LLC purchased a new stake in shares of NNN REIT in the 3rd quarter worth about $236,000. Everence Capital Management Inc. bought a new stake in shares of NNN REIT during the 4th quarter valued at about $206,000. Finally, Steph & Co. increased its position in shares of NNN REIT by 8.2% during the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust's stock valued at $231,000 after buying an additional 429 shares during the period. 89.96% of the stock is currently 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.