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

Colliers Securities lowered shares of NNN REIT (NYSE:NNN) from a buy rating to a neutral rating in a report published on Friday morning, MarketBeat reports.

Several other equities research analysts have also issued reports on the company. UBS Group lifted their price target on NNN REIT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Raymond James increased their price target on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. B. Riley boosted their price objective on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Finally, StockNews.com lowered shares of NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.17.

NNN REIT Trading Down 0.1 %

Shares of NNN opened at $43.40 on Friday. NNN REIT has a 1-year low of $37.69 and a 1-year high of $49.57. The company has a market capitalization of $7.97 billion, a P/E ratio of 20.09, a P/E/G ratio of 3.46 and a beta of 1.10. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. The firm’s 50 day simple moving average is $47.71 and its 200 day simple moving average is $44.75.

NNN REIT (NYSE:NNN) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a net margin of 45.63% and a return on equity of 9.47%. The company had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter last year, the business posted $0.80 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that NNN REIT will post 3.3 earnings per share for the current fiscal year.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Thursday, October 31st. NNN REIT’s payout ratio is 107.41%.

Insiders Place Their Bets

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the completion of the transaction, the executive vice president now owns 69,756 shares in the company, valued at $3,270,161.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Several institutional investors and hedge funds have recently modified their holdings of NNN. LRI Investments LLC purchased a new position in shares of NNN REIT in the 1st quarter valued at approximately $34,000. Bruce G. Allen Investments LLC grew its position in shares of NNN REIT by 1,276.8% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares during the period. Versant Capital Management Inc bought a new position in shares of NNN REIT in the 2nd quarter worth about $59,000. GAMMA Investing LLC lifted its position in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,123 shares during the period. Finally, Farther Finance Advisors LLC grew 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 worth $110,000 after purchasing an additional 280 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.