NNN REIT (NYSE:NNN) Lowered to Underperform Rating by BNP Paribas

NNN REIT (NYSE:NNN - Get Free Report) was downgraded by equities researchers at BNP Paribas from a "neutral" rating to an "underperform" rating in a report issued on Monday, Marketbeat reports. They currently have a $44.00 price objective on the real estate investment trust's stock. BNP Paribas' price objective would suggest a potential upside of 1.55% from the company's current price.

Several other brokerages have also issued reports on NNN. Raymond James upped their target price on NNN REIT from $47.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 21st. StockNews.com lowered shares of NNN REIT from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Wells Fargo & Company restated an "equal weight" rating and set a $50.00 price target (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. UBS Group lifted their price objective on NNN REIT from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $47.14.

NNN REIT Price Performance

Shares of NYSE:NNN traded down $0.07 during trading on Monday, reaching $43.33. The company had a trading volume of 2,211,574 shares, compared to its average volume of 1,159,620. The company has a fifty day moving average of $47.71 and a two-hundred day moving average of $44.78. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $7.96 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. NNN REIT has a 12 month low of $37.69 and a 12 month high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.24). NNN REIT had a net margin of 45.63% and a return on equity of 9.47%. The firm had revenue of $216.81 million for the quarter, compared to analysts' expectations of $212.30 million. During the same quarter in the previous year, the business earned $0.80 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts forecast that NNN REIT will post 3.3 earnings per share for the current year.

Insider Activity at NNN REIT

In related news, EVP Michelle Lynn Miller sold 4,000 shares of NNN REIT stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the sale, the executive vice president now owns 69,756 shares in the company, valued at $3,270,161.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of NNN REIT during the first quarter valued at approximately $34,000. Bruce G. Allen Investments LLC grew its position in shares of NNN REIT by 1,276.8% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,047 shares during the period. Versant Capital Management Inc bought a new position in shares of NNN REIT in the 2nd quarter worth about $59,000. GAMMA Investing LLC lifted its position in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust's stock valued at $99,000 after acquiring an additional 1,123 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in NNN REIT by 14.1% during 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 in the last quarter. 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.