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

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

Several other research analysts also recently weighed in on NNN. Royal Bank of Canada cut their target price on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a report on Friday, November 1st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. B. Riley raised 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. Finally, BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price for the company. in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.29.

NNN REIT Stock Performance

NYSE:NNN traded up $0.36 during mid-day trading on Thursday, reaching $42.19. The stock had a trading volume of 628,083 shares, compared to its average volume of 1,171,067. The business has a 50 day simple moving average of $46.85 and a 200 day simple moving average of $44.84. NNN REIT has a twelve month low of $38.49 and a twelve month high of $49.57. The firm has a market capitalization 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 company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85.

NNN REIT Announces Dividend

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

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the business. LRI Investments LLC acquired a new stake in NNN REIT in the first quarter valued at $34,000. Bruce G. Allen Investments LLC lifted its holdings in NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of NNN REIT in the 2nd quarter worth approximately $59,000. Farther Finance Advisors LLC grew its position in shares of NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 280 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of NNN REIT by 93.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,123 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other 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.