NNN REIT’s (NNN) “Neutral” Rating Reiterated at B. Riley

B. Riley reissued their neutral rating on shares of NNN REIT (NYSE:NNN) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $43.00 price target on the real estate investment trust’s stock, down from their prior price target of $46.50.

Several other research analysts have also weighed in on the company. BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research report on Monday, November 4th. Barclays dropped their target price on shares of NNN REIT from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com lowered NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT in a research note on Wednesday, December 11th. They issued a “hold” rating and a $46.00 target price for the company. Finally, Colliers Securities cut NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. One equities 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’s stock. According to data from MarketBeat.com, NNN REIT presently has an average rating of “Hold” and a consensus price target of $44.92.

NNN REIT Price Performance

NYSE NNN opened at $41.18 on Tuesday. NNN REIT has a 52-week low of $37.55 and a 52-week high of $49.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.04 and a beta of 1.11. The company has a 50 day simple moving average of $40.01 and a 200-day simple moving average of $43.91.

NNN REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date was Friday, January 31st. NNN REIT’s dividend payout ratio is currently 107.91%.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares in the company, valued at approximately $2,922,817.56. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. 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 last quarter. Millstone Evans Group LLC acquired a new position in shares of NNN REIT during the fourth quarter valued at $42,000. Farther Finance Advisors LLC boosted its holdings in 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 last quarter. DGS Capital Management LLC acquired a new stake in NNN REIT in the third quarter worth about $236,000. Finally, EverSource Wealth Advisors LLC raised its holdings in NNN REIT by 882.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 4,449 shares during the last quarter. 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.