Barclays Initiates Coverage on NNN REIT (NYSE:NNN)

Research analysts at Barclays initiated coverage on shares of NNN REIT (NYSE:NNN) in a research report issued on Tuesday, Marketbeat reports. The brokerage set an “overweight” rating and a $48.00 price target on the real estate investment trust’s stock. Barclays‘s price target would suggest a potential upside of 17.68% from the company’s current price.

NNN has been the subject of several other research reports. BNP Paribas downgraded shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price for the company. in a research note on Monday, November 4th. StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Royal Bank of Canada lowered their target price on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Raymond James increased their price target on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, UBS Group lowered their price objective on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.17.

NNN REIT Price Performance

Shares of NYSE NNN opened at $40.79 on Tuesday. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average price is $44.37 and its 200 day moving average price is $45.08. NNN REIT has a 52 week low of $38.88 and a 52 week high of $49.57. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 2.16 and a beta of 1.10.

Insiders Place Their Bets

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction 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 completion of the sale, 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 SEC, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Hedge funds and other institutional investors have recently made changes to their positions in the business. DGS Capital Management LLC bought a new stake in NNN REIT in the third quarter valued at $236,000. Goodman Financial Corp boosted its holdings in NNN REIT by 1.2% during the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock worth $14,065,000 after buying an additional 3,388 shares during the last quarter. Strengthening Families & Communities LLC grew its holdings in NNN REIT by 7.1% during the third quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after purchasing an additional 4,170 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in NNN REIT by 17.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after buying an additional 28,476 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of 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 purchasing an additional 280 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

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.