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

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

Several other brokerages also recently weighed in on NNN. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a report on Friday, November 1st. Royal Bank of Canada dropped their price objective 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. Finally, Robert W. Baird boosted their target price on shares of NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.29.

NNN REIT Stock Up 0.9 %

Shares of NNN opened at $42.20 on Thursday. The firm has a 50 day simple moving average of $46.73 and a two-hundred day simple moving average of $44.88. 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 one year low of $38.49 and a one year high of $49.57. The company has a market cap of $7.91 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.13 and a beta of 1.10.

NNN REIT Announces Dividend

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

Institutional Trading of NNN REIT

A number of large investors have recently bought and sold shares of NNN. LRI Investments LLC bought a new position in NNN REIT during the first quarter worth $69,000. Pathway Financial Advisers LLC bought a new stake in NNN REIT in the 1st quarter valued at about $184,000. GAMMA Investing LLC raised its stake in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 1,123 shares during the period. Versant Capital Management Inc bought a new position in NNN REIT in the second quarter worth approximately $59,000. Finally, Bruce G. Allen Investments LLC grew its stake in 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 valued at $48,000 after acquiring an additional 1,047 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.