NNN REIT (NYSE:NNN) Downgraded by Janney Montgomery Scott to Neutral

Janney Montgomery Scott downgraded shares of NNN REIT (NYSE:NNN) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat Ratings reports. Janney Montgomery Scott currently has $43.00 price target on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on NNN. Jefferies Financial Group downgraded shares of NNN REIT from a “buy” rating to a “hold” rating and lowered their target price for the stock from $52.00 to $43.00 in a report on Thursday, January 2nd. StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Colliers Securities downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating in a report on Friday, November 1st. B. Riley decreased their price objective on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, NNN REIT has a consensus rating of “Hold” and a consensus price target of $45.79.

NNN REIT Price Performance

Shares of NNN opened at $39.45 on Wednesday. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.90 and a beta of 1.11. NNN REIT has a 1-year low of $37.55 and a 1-year high of $49.57. The company’s fifty day simple moving average is $41.69 and its 200 day simple moving average is $44.76. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.88%. The ex-dividend date of this dividend is Friday, January 31st. NNN REIT’s payout ratio is 107.41%.

Insiders Place Their Bets

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised 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 valued at $110,000 after buying an additional 280 shares during the last quarter. GAMMA Investing LLC raised its holdings in NNN REIT by 23.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 553 shares during the last quarter. Everence Capital Management Inc. bought a new position in NNN REIT in the 4th quarter valued at approximately $206,000. Steph & Co. raised its holdings in NNN REIT by 8.2% in the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 429 shares during the last quarter. Finally, DGS Capital Management LLC bought a new position in NNN REIT in the 3rd quarter valued at approximately $236,000. Institutional investors own 89.96% of the company’s stock.

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.