NNN REIT (NYSE:NNN) Earns Neutral Rating from B. Riley

B. Riley reissued their neutral rating on shares of NNN REIT (NYSE:NNN - Free Report) in a report published on Tuesday morning,Benzinga reports. B. Riley currently has a $43.00 target price on the real estate investment trust's stock, down from their prior target price of $46.50.

Several other brokerages also recently commented on NNN. Royal Bank of Canada cut their price target on shares of NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a report on Wednesday, February 12th. Robert W. Baird raised their price target on shares of NNN REIT from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Janney Montgomery Scott cut shares of NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 price objective on the stock. in a research report on Wednesday, January 15th. Evercore ISI initiated coverage on shares of NNN REIT in a research report on Friday, January 31st. They set an "inline" rating and a $42.00 price objective on the stock. Finally, Colliers Securities cut shares of NNN REIT from a "buy" rating to a "neutral" rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, NNN REIT currently has an average rating of "Hold" and an average target price of $44.92.

NNN REIT Price Performance

NYSE:NNN traded up $0.18 during trading hours on Tuesday, hitting $41.38. The stock had a trading volume of 842,997 shares, compared to its average volume of 1,246,421. The company has a 50 day simple moving average of $39.99 and a two-hundred day simple moving average of $43.88. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. NNN REIT has a one year low of $37.55 and a one year high of $49.57. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.04 and a beta of 1.11.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT's payout ratio is presently 107.91%.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value 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. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NNN REIT

A number of hedge funds have recently modified their holdings of NNN. Farther Finance Advisors LLC increased its position in shares of 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 period. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of NNN REIT by 17.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust's stock valued at $9,134,000 after acquiring an additional 28,476 shares during the period. Strengthening Families & Communities LLC increased its position in shares of NNN REIT by 7.1% in the third quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust's stock valued at $3,066,000 after acquiring an additional 4,170 shares during the period. Goodman Financial Corp increased its position in shares of NNN REIT by 1.2% in the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust's stock valued at $14,065,000 after acquiring an additional 3,388 shares during the period. Finally, DGS Capital Management LLC purchased a new position in shares of NNN REIT in the third quarter valued at about $236,000. 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.