NNN REIT (NYSE:NNN) Stock Rating Upgraded by BNP Paribas

NNN REIT (NYSE:NNN) was upgraded by investment analysts at BNP Paribas from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a $42.00 price target on the real estate investment trust’s stock. BNP Paribas’ price target would suggest a potential upside of 0.48% from the company’s current price.

NNN REIT Stock Up 0.5 %

Shares of NYSE:NNN traded up $0.22 during trading hours on Thursday, hitting $41.80. The company’s stock had a trading volume of 1,183,421 shares, compared to its average volume of 1,207,819. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.52 and a quick ratio of 1.26. The firm’s fifty day moving average price is $41.40 and its 200 day moving average price is $40.74. NNN REIT has a 52 week low of $34.38 and a 52 week high of $44.96. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 4.84 and a beta of 1.00.

Hedge Funds Weigh In On NNN REIT

A number of large investors have recently added to or reduced their stakes in NNN. Essex Financial Services Inc. boosted its stake in NNN REIT by 16.3% in the first quarter. Essex Financial Services Inc. now owns 14,836 shares of the real estate investment trust’s stock valued at $634,000 after acquiring an additional 2,081 shares in the last quarter. DGS Capital Management LLC purchased a new stake in NNN REIT in the first quarter valued at about $212,000. Sound Income Strategies LLC boosted its holdings in NNN REIT by 96,000.0% in the first quarter. Sound Income Strategies LLC now owns 48,050 shares of the real estate investment trust’s stock worth $2,054,000 after acquiring an additional 48,000 shares in the last quarter. Riverview Trust Co acquired a new position in shares of NNN REIT during the first quarter valued at about $43,000. Finally, Steph & Co. acquired a new stake in NNN REIT in the 1st quarter worth approximately $170,000. 89.96% of the stock is currently owned by institutional investors.

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.