Morgan Stanley upgraded shares of NNN REIT (NYSE:NNN - Free Report) from an equal weight rating to an overweight rating in a research note published on Wednesday morning, MarketBeat reports. Morgan Stanley currently has $48.00 price objective on the real estate investment trust's stock.
Other equities research analysts have also issued research reports about the stock. B. Riley decreased their price objective on shares of NNN REIT from $49.00 to $46.50 and set a "buy" rating for the company in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on NNN REIT in a research report on Wednesday, December 11th. They set a "hold" rating and a $46.00 price target for the company. UBS Group cut their price objective on NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Colliers Securities lowered NNN REIT from a "buy" rating to a "neutral" rating in a research report on Friday, November 1st. Finally, Robert W. Baird boosted their price target on shares of NNN REIT from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $45.79.
Check Out Our Latest Analysis on NNN
NNN REIT Stock Up 0.6 %
Shares of NNN stock traded up $0.23 on Wednesday, hitting $39.45. The stock had a trading volume of 935,452 shares, compared to its average volume of 1,086,850. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. The business has a 50 day moving average of $41.73 and a 200 day moving average of $44.80. NNN REIT has a 12-month low of $37.55 and a 12-month high of $49.57. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11.
NNN REIT Announces Dividend
The business also recently disclosed 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 (DPR) is 107.41%.
Insiders Place Their Bets
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 shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the sale, the executive vice president now directly owns 68,756 shares in the company, 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 through this hyperlink. 0.82% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased 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 buying an additional 280 shares during the last quarter. Steph & Co. boosted its stake in NNN REIT by 8.2% in the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust's stock worth $231,000 after buying an additional 429 shares in the last quarter. GAMMA Investing LLC grew 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 during the last quarter. Pathway Financial Advisers LLC raised its position in NNN REIT by 32.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust's stock worth $243,000 after purchasing an additional 1,414 shares during the period. Finally, Goodman Financial Corp raised its position in NNN REIT by 1.2% in the 3rd quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust's stock worth $14,065,000 after purchasing an additional 3,388 shares during the period. Institutional investors 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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