NNN REIT (NYSE:NNN) Given New $43.00 Price Target at UBS Group

NNN REIT (NYSE:NNN) had its target price cut by UBS Group from $49.00 to $43.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on NNN. StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. B. Riley upped their price objective on NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Robert W. Baird upped their price objective on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, BNP Paribas downgraded NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective on the stock. in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.29.

NNN REIT Price Performance

Shares of NYSE NNN opened at $42.20 on Thursday. NNN REIT has a twelve month low of $38.49 and a twelve month high of $49.57. The stock’s 50 day moving average price is $46.73 and its 200-day moving average price is $44.91. The company has a market capitalization of $7.91 billion, a PE ratio of 19.54, a PEG ratio of 2.13 and a beta of 1.10. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.50%. NNN REIT’s payout ratio is 107.41%.

Institutional Investors Weigh In On NNN REIT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nicholas Hoffman & Company LLC. increased its holdings in shares of NNN REIT by 1.8% in the second quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock worth $568,000 after purchasing an additional 240 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 280 shares during the period. GAMMA Investing LLC increased its holdings in shares of NNN REIT by 23.8% in the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 553 shares during the period. LRI Investments LLC bought a new position in shares of NNN REIT in the first quarter worth $34,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of NNN REIT by 1,276.8% in the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,047 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.