BNP Paribas Upgrades NNN REIT (NYSE:NNN) to “Neutral”

NNN REIT (NYSE:NNN) was upgraded by equities research analysts at BNP Paribas from an “underperform” rating to a “neutral” rating in a research note issued to investors on Thursday, FinViz reports. The firm currently has a $42.00 target price on the real estate investment trust’s stock. BNP Paribas’ price objective points to a potential upside of 3.24% from the company’s current price.

NNN REIT Stock Up 0.4 %

Shares of NYSE NNN opened at $40.68 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.05. NNN REIT has a 52-week low of $34.38 and a 52-week high of $44.96. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 4.71 and a beta of 1.00. The company’s 50-day simple moving average is $41.40 and its 200-day simple moving average is $40.70.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC raised its position in NNN REIT by 77.0% in the fourth quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 328 shares during the period. First United Bank & Trust purchased a new position in NNN REIT during the fourth quarter worth about $39,000. GAMMA Investing LLC acquired a new stake in shares of NNN REIT during the fourth quarter valued at about $39,000. Riverview Trust Co purchased a new stake in shares of NNN REIT in the 1st quarter valued at approximately $43,000. Finally, Essex Financial Services Inc. raised its stake in shares of NNN REIT by 9.3% in the 4th quarter. Essex Financial Services Inc. now owns 12,755 shares of the real estate investment trust’s stock valued at $550,000 after acquiring an additional 1,080 shares during the period. 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.