UBS Group Lowers NNN REIT (NYSE:NNN) Price Target to $43.00

NNN REIT (NYSE:NNN) had its price target trimmed by UBS Group from $49.00 to $43.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target on the stock. in a report on Monday, November 4th. B. Riley increased their price objective on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reduced their price target on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.29.

NNN REIT Stock Performance

Shares of NYSE NNN traded up $0.36 during mid-day trading on Thursday, hitting $42.19. The company had a trading volume of 628,083 shares, compared to its average volume of 1,171,067. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.14 and a beta of 1.10. The firm’s 50 day simple moving average is $46.85 and its two-hundred day simple moving average is $44.84. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. NNN REIT has a 12 month low of $38.49 and a 12 month high of $49.57.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.50%. NNN REIT’s payout ratio is 107.41%.

Institutional Investors Weigh In On NNN REIT

Several institutional investors and hedge funds have recently modified their holdings of NNN. Goodman Financial Corp lifted its stake in shares of NNN REIT by 1.2% in the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock worth $14,065,000 after buying an additional 3,388 shares during the last quarter. Strengthening Families & Communities LLC raised its stake in shares of NNN REIT by 7.1% in the 3rd quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after buying an additional 4,170 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in NNN REIT by 17.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after acquiring an additional 28,476 shares during the period. Farther Finance Advisors LLC raised its position in 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 in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in NNN REIT by 19.0% during the third quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock valued at $15,280,000 after purchasing an additional 50,213 shares in 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.