NNN REIT (NYSE:NNN) Price Target Raised to $45.00

NNN REIT (NYSE:NNN) had its price target increased by research analysts at UBS Group from $43.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective suggests a potential downside of 0.94% from the stock’s previous close.

NNN has been the topic of several other research reports. Wells Fargo & Company boosted their target price on shares of NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. B. Riley Financial reissued a “neutral” rating and set a $43.00 price target (down from $44.00) on shares of NNN REIT in a report on Friday, November 14th. Evercore decreased their price objective on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Deutsche Bank Aktiengesellschaft raised shares of NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NNN REIT in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $44.83.

NNN REIT Price Performance

Shares of NNN REIT stock traded up $0.31 during midday trading on Monday, hitting $45.43. 1,146,051 shares of the company were exchanged, compared to its average volume of 1,505,807. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $8.63 billion, a P/E ratio of 21.95, a PEG ratio of 3.31 and a beta of 0.83. NNN REIT has a 52 week low of $35.80 and a 52 week high of $46.03. The firm has a 50 day simple moving average of $42.65 and a 200-day simple moving average of $41.90.

Insider Activity

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 shares were sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the sale, the chief executive officer directly owned 822,711 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Adamo sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $44.99, for a total transaction of $269,940.00. Following the completion of the sale, the executive vice president directly owned 126,358 shares of the company’s stock, valued at approximately $5,684,846.42. This represents a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On NNN REIT

Several hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new position in NNN REIT during the 3rd quarter valued at about $51,000. Ameriflex Group Inc. boosted its stake in 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 valued at $99,000 after acquiring an additional 2,165 shares during the last quarter. Rothschild Investment LLC grew 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 worth $182,000 after acquiring an additional 3,905 shares during the period. Bayforest Capital Ltd raised its position in shares of 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 acquiring an additional 3,963 shares during the last quarter. Finally, Hanson & Doremus Investment Management bought a new stake in shares of NNN REIT during the 4th quarter valued at $187,000. Institutional investors own 89.96% of the company’s stock.

NNN REIT Company Profile

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.