NNN REIT (NYSE:NNN) Cut to Underperform at BNP Paribas

NNN REIT (NYSE:NNN) was downgraded by stock analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Monday, Briefing.com reports. They currently have a $44.00 target price on the real estate investment trust’s stock. BNP Paribas’ price target would indicate a potential upside of 1.38% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada decreased their price objective on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday. StockNews.com cut NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. B. Riley increased their price objective on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Raymond James increased their price objective on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, NNN REIT currently has a consensus rating of “Hold” and a consensus price target of $47.14.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $43.40 on Monday. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 3.46 and a beta of 1.10. NNN REIT has a one year low of $37.69 and a one year high of $49.57. The company has a 50-day simple moving average of $47.71 and a 200-day simple moving average of $44.75. 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 (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 analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a return on equity of 9.47% and a net margin of 45.63%. The company had revenue of $216.81 million for the quarter, compared to analyst estimates of $212.30 million. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that NNN REIT will post 3.3 EPS for the current year.

Insider Activity at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $3,270,161.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NNN REIT

Hedge funds have recently bought and sold shares of the stock. LRI Investments LLC purchased a new position in NNN REIT during the first quarter worth $34,000. Bruce G. Allen Investments LLC increased its position in NNN REIT by 1,276.8% during the second 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 in the last quarter. Versant Capital Management Inc purchased a new position in NNN REIT during the second quarter worth $59,000. GAMMA Investing LLC increased its position in NNN REIT by 93.2% during the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 1,123 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in NNN REIT by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 280 shares in the last quarter. Hedge funds and other 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.