NNN REIT (NYSE:NNN) Lowered to Strong Sell Rating by Barclays

NNN REIT (NYSE:NNN - Get Free Report) was downgraded by equities research analysts at Barclays from a "strong-buy" rating to a "strong sell" rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI lifted their price target on shares of NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. UBS Group dropped their target price on shares of NNN REIT from $43.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, NNN REIT presently has a consensus rating of "Hold" and an average price target of $44.38.

NNN REIT Stock Up 1.3%

Shares of NYSE NNN opened at $43.39 on Tuesday. NNN REIT has a 1 year low of $35.80 and a 1 year high of $49.57. The firm's 50 day moving average price is $42.34 and its 200 day moving average price is $41.33. The firm has a market cap of $8.15 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 4.01 and a beta of 0.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.58 and a current ratio of 0.58.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The company had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. During the same quarter last year, the business earned $0.84 EPS. NNN REIT's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that NNN REIT will post 3.33 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. boosted its holdings in shares of NNN REIT by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust's stock worth $2,028,000 after buying an additional 14,850 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of NNN REIT during the 4th quarter worth $593,000. Putney Financial Group LLC bought a new stake in shares of NNN REIT during the 4th quarter worth $38,000. Versant Capital Management Inc raised its stake in NNN REIT by 151.9% during the 1st quarter. Versant Capital Management Inc now owns 4,255 shares of the real estate investment trust's stock valued at $181,000 after purchasing an additional 2,566 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in NNN REIT by 3,301.7% during the 1st quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock valued at $4,186,000 after purchasing an additional 95,253 shares during the last quarter. Institutional investors and hedge funds 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.

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