Colliers Securities Downgrades NNN REIT (NYSE:NNN) to Neutral

NNN REIT (NYSE:NNN) was downgraded by investment analysts at Colliers Securities from a “buy” rating to a “neutral” rating in a research note issued on Friday, Briefing.com reports.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada cut their target price on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday. StockNews.com lowered shares of NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday. B. Riley boosted their price objective on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. Finally, UBS Group raised their price objective on NNN REIT from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.17.

NNN REIT Trading Down 0.1 %

NNN REIT stock traded down $0.04 during mid-day trading on Friday, hitting $43.40. The company’s stock had a trading volume of 1,532,544 shares, compared to its average volume of 1,154,653. The company has a 50 day moving average of $47.78 and a 200-day moving average of $44.69. The stock has a market cap of $7.97 billion, a PE ratio of 19.55, a P/E/G ratio of 3.66 and a beta of 1.09. NNN REIT has a one year low of $37.69 and a one year high of $49.57. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.72 and a current ratio of 1.72.

NNN REIT (NYSE:NNN) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). The firm had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $0.80 earnings per share. On average, research analysts anticipate that NNN REIT will post 3.3 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the transaction, the executive vice president now owns 69,756 shares in the company, valued at approximately $3,270,161.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in NNN. Sound Income Strategies LLC raised its stake in NNN REIT by 19.0% during the third quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after acquiring an additional 50,213 shares in the last quarter. Amalgamated Bank lifted its stake in NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after buying an additional 4,088 shares during the period. SG Americas Securities LLC boosted its holdings in NNN REIT by 95.5% in the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock worth $2,724,000 after acquiring an additional 31,141 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in NNN REIT by 40.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after purchasing an additional 15,100 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its holdings in shares of NNN REIT by 1.8% in the second quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock valued at $568,000 after purchasing an additional 240 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.