NNN REIT (NYSE:NNN) Downgraded to “Market Perform” Rating by Raymond James Financial

NNN REIT (NYSE:NNN) was downgraded by Raymond James Financial from an “outperform” rating to a “market perform” rating in a report released on Tuesday.

A number of other equities analysts have also commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of NNN REIT in a research report on Thursday, January 22nd. Evercore cut their target price on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Deutsche Bank Aktiengesellschaft raised NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Tuesday, January 20th. Wells Fargo & Company lifted their price target on NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Finally, Robert W. Baird set a $46.00 price objective on NNN REIT in a report on Thursday, February 12th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $44.83.

NNN REIT Stock Up 0.5%

Shares of NYSE NNN opened at $45.24 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average of $43.31 and a 200-day moving average of $42.02. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 3.31 and a beta of 0.82. NNN REIT has a 12 month low of $35.80 and a 12 month high of $46.03.

Insider Buying and Selling

In other news, CEO Stephen A. Horn, Jr. sold 33,192 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the completion of the sale, the chief executive officer owned 822,711 shares of the company’s stock, valued at approximately $37,005,540.78. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Adamo sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $44.99, for a total transaction of $269,940.00. Following the completion of the transaction, the executive vice president owned 126,358 shares in the company, valued at $5,684,846.42. This represents a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On NNN REIT

Institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of NNN REIT in the third quarter valued at about $51,000. Ameriflex Group Inc. grew its stake in shares of NNN REIT by 1,266.1% in the third quarter. Ameriflex Group Inc. now owns 2,336 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 2,165 shares during the last quarter. Rothschild Investment LLC increased its holdings in NNN REIT by 1,066.9% during the 3rd quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 3,905 shares during the period. Hanson & Doremus Investment Management purchased a new position in NNN REIT during the 4th quarter valued at about $187,000. Finally, Bayforest Capital Ltd raised its position in NNN REIT by 705.2% during the 3rd quarter. Bayforest Capital Ltd now owns 4,525 shares of the real estate investment trust’s stock valued at $193,000 after purchasing an additional 3,963 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

About NNN REIT

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.