NNN REIT (NYSE:NNN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

NNN REIT (NYSE:NNN - Get Free Report) had its target price boosted by equities researchers at Wells Fargo & Company from $41.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would indicate a potential upside of 1.08% from the company's current price.

Several other research firms have also recently commented on NNN. Janney Montgomery Scott cut NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a research note on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on shares of NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 12th. Jefferies Financial Group downgraded shares of NNN REIT from a "buy" rating to a "hold" rating and reduced their price target for the company from $52.00 to $43.00 in a research report on Thursday, January 2nd. Evercore ISI initiated coverage on shares of NNN REIT in a report on Friday, January 31st. They set an "inline" rating and a $42.00 price objective for the company. Finally, B. Riley reaffirmed a "neutral" rating and issued a $43.00 price target (down previously from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $44.54.

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NNN REIT Trading Up 1.6 %

NNN stock traded up $0.68 during midday trading on Monday, hitting $43.53. The stock had a trading volume of 107,434 shares, compared to its average volume of 1,228,469. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The firm has a market cap of $8.16 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. The business has a fifty day moving average price of $40.33 and a two-hundred day moving average price of $43.61. NNN REIT has a 1-year low of $37.55 and a 1-year high of $49.57.

Insider Transactions at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the 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 owns 68,756 shares in the company, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.82% of the company's stock.

Institutional Trading of NNN REIT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Putney Financial Group LLC purchased a new position in NNN REIT during the fourth quarter valued at approximately $38,000. Lindbrook Capital LLC boosted its position in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 305 shares during the period. Millstone Evans Group LLC purchased a new position in shares of NNN REIT during the fourth quarter valued at $42,000. Farther Finance Advisors LLC grew its stake in 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 worth $110,000 after buying an additional 280 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of NNN REIT by 882.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust's stock valued at $202,000 after acquiring an additional 4,449 shares in the last quarter. Hedge funds and other institutional investors 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.

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