NNN REIT (NYSE:NNN) Downgraded by Jefferies Financial Group to "Hold"

NNN REIT (NYSE:NNN - Get Free Report) was downgraded by investment analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday, MarketBeat reports. They presently have a $43.00 target price on the real estate investment trust's stock, down from their previous target price of $52.00. Jefferies Financial Group's price target points to a potential upside of 7.21% from the company's previous close.

Several other research firms have also recently weighed in on NNN. Robert W. Baird raised their price target on NNN REIT from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Barclays assumed coverage on NNN REIT in a research report on Tuesday, December 17th. They set an "overweight" rating and a $48.00 price objective on the stock. Royal Bank of Canada dropped their target price on NNN REIT from $48.00 to $45.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. UBS Group decreased their price target on NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT in a research note on Wednesday, December 11th. They set a "hold" rating and a $46.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $45.85.

NNN REIT Price Performance

NNN traded down $0.74 during trading on Thursday, reaching $40.11. 953,201 shares of the company traded hands, compared to its average volume of 1,178,783. The company has a market cap of $7.52 billion, a P/E ratio of 18.57, a PEG ratio of 2.16 and a beta of 1.10. 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 12-month low of $38.88 and a 12-month high of $49.57. The firm has a fifty day simple moving average of $42.80 and a 200 day simple moving average of $44.97.

Insider Buying and Selling at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 68,756 shares in the company, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNN. Nicholas Hoffman & Company LLC. lifted its holdings in shares of NNN REIT by 1.8% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust's stock valued at $568,000 after purchasing an additional 240 shares during the last quarter. Amalgamated Bank increased its stake in shares of NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust's stock worth $4,420,000 after acquiring an additional 4,088 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of NNN REIT by 32.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust's stock valued at $243,000 after buying an additional 1,414 shares during the last quarter. Handelsbanken Fonder AB raised its position in NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust's stock valued at $2,531,000 after acquiring an additional 15,100 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust's stock valued at $140,000 after purchasing an additional 553 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.