NNN REIT (NYSE:NNN) Price Target Lowered to $43.00 at Royal Bank of Canada

NNN REIT (NYSE:NNN) had its target price decreased by research analysts at Royal Bank of Canada from $45.00 to $43.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.47% from the company’s current price.

A number of other equities analysts have also recently issued reports on NNN. BNP Paribas cut shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target on the stock. in a research note on Monday, November 4th. Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NNN REIT in a research note on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price target on the stock. B. Riley dropped their price target on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Finally, Colliers Securities cut shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, NNN REIT has a consensus rating of “Hold” and an average price target of $45.19.

NNN REIT Stock Performance

Shares of NNN REIT stock opened at $40.77 on Wednesday. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.94 and a beta of 1.11. The firm’s 50-day moving average is $40.18 and its 200 day moving average is $44.09. NNN REIT has a 1 year low of $37.55 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85.

Insider Activity

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the sale, the executive vice president now owns 68,756 shares of the company’s stock, valued at $2,922,817.56. This represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently made changes to their positions in NNN. Lindbrook Capital LLC increased its holdings in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 305 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in NNN REIT in the 4th quarter worth approximately $42,000. Farther Finance Advisors LLC increased its holdings in NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 280 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in NNN REIT by 882.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 4,449 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in NNN REIT in the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.