NNN REIT (NYSE:NNN) Stock Rating Upgraded by Morgan Stanley

NNN REIT (NYSE:NNN) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $48.00 target price on the real estate investment trust’s stock. Morgan Stanley’s price target points to a potential upside of 22.39% from the company’s current price.

A number of other research firms also recently issued reports on NNN. UBS Group cut their price objective on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a report on Monday, November 4th. Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 target price (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. B. Riley dropped their price target on NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group downgraded shares of NNN REIT from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $52.00 to $43.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.05.

NNN REIT Stock Up 1.6 %

NNN stock opened at $39.22 on Wednesday. The business’s fifty day moving average price is $41.80 and its two-hundred day moving average price is $44.82. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.17 and a beta of 1.11. NNN REIT has a fifty-two week low of $37.55 and a fifty-two week 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 Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 directly owns 68,756 shares of the company’s stock, valued at $2,922,817.56. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Hedge funds have recently added to or reduced their stakes in the stock. Steph & Co. boosted 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 worth $231,000 after buying an additional 429 shares during the period. Everence Capital Management Inc. bought a new position in shares of NNN REIT in the fourth quarter worth $206,000. DGS Capital Management LLC bought a new position in shares of NNN REIT in the third quarter worth $236,000. Goodman Financial Corp grew its position in shares of NNN REIT by 1.2% in the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after purchasing an additional 3,388 shares in the last quarter. Finally, Strengthening Families & Communities LLC raised its stake in shares of NNN REIT by 7.1% during the 3rd quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after purchasing an additional 4,170 shares during the period. 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.