NNN REIT (NYSE:NNN) Stock Rating Lowered by Colliers Securities

by · The Markets Daily

NNN REIT (NYSE:NNN – Get Free Report) was downgraded by equities researchers at Colliers Securities from a “buy” rating to a “neutral” rating in a research note issued on Friday, Briefing.com reports.

A number of other analysts have also commented on NNN. Raymond James lifted their target price on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. B. Riley upped their price target on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday. UBS Group raised their target price on shares of NNN REIT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.17.

Get Our Latest Report on NNN REIT

NNN REIT Price Performance

NYSE NNN traded down $0.04 during trading hours on Friday, hitting $43.40. The company had a trading volume of 1,532,544 shares, compared to its average volume of 1,154,653. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 3.66 and a beta of 1.09. 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 has a 52 week low of $37.69 and a 52 week high of $49.57. The firm has a 50 day simple moving average of $47.78 and a 200 day simple moving average of $44.69.

NNN REIT (NYSE:NNN – Get Free Report) last issued its quarterly earnings data 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). NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The company had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $212.30 million. During the same period in the previous year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts expect that NNN REIT will post 3.3 earnings per share for the current year.

Insider Activity at NNN REIT

In other news, EVP Michelle Lynn Miller sold 4,000 shares of the firm’s 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 transaction, the executive vice president now owns 69,756 shares of the company’s stock, valued at approximately $3,270,161.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC grew its holdings in shares of NNN REIT by 451.3% during the 2nd quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock worth $11,285,000 after purchasing an additional 216,855 shares in the last quarter. SG Americas Securities LLC grew its holdings in NNN REIT by 95.5% during the 1st 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 during the period. Handelsbanken Fonder AB increased its stake in shares of NNN REIT by 40.7% in 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 acquiring an additional 15,100 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in NNN REIT during the 1st quarter worth $184,000. Finally, 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 in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

About NNN REIT

(Get Free Report)

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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