NNN REIT (NYSE:NNN) Price Target Raised to $49.00 at UBS Group

NNN REIT (NYSE:NNN) had its target price hoisted by UBS Group from $48.00 to $49.00 in a research note issued to investors on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on NNN. B. Riley raised their price objective on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price objective (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Royal Bank of Canada upped their price objective on NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Raymond James boosted their price target on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, StockNews.com upgraded NNN REIT from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, NNN REIT presently has a consensus rating of “Hold” and a consensus price target of $47.33.

NNN REIT Stock Up 0.7 %

NNN stock opened at $49.35 on Wednesday. The business’s 50-day simple moving average is $47.47 and its 200 day simple moving average is $44.27. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The company has a market cap of $9.05 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 3.79 and a beta of 1.09. NNN REIT has a twelve month low of $34.61 and a twelve month high of $49.57.

NNN REIT (NYSE:NNN) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The firm had revenue of $216.81 million for the quarter, compared to the consensus estimate of $212.30 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts anticipate that NNN REIT will post 3.3 earnings per share for the current year.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a yield of 4.70%. NNN REIT’s dividend payout ratio is 106.42%.

Insiders Place Their Bets

In other news, EVP Michelle Lynn Miller sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the sale, the executive vice president now directly owns 69,756 shares in the company, valued at approximately $3,270,161.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC lifted its holdings in NNN REIT by 19.0% during the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after buying an additional 50,213 shares in the last quarter. GAMMA Investing LLC raised its position in shares of NNN REIT by 23.8% during the third quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 553 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after acquiring an additional 15,100 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of NNN REIT by 32.9% during the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 1,414 shares during the period. Finally, Amalgamated Bank boosted its holdings in NNN REIT by 4.1% in the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after acquiring an additional 4,088 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

About NNN REIT

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.