NNN REIT (NYSE:NNN) Price Target Cut to $43.00 by Analysts at UBS Group

NNN REIT (NYSE:NNN) had its target price cut by UBS Group from $44.00 to $43.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts also recently commented on NNN. Barclays upped their target price on NNN REIT from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Evercore ISI started coverage on shares of NNN REIT in a research note on Friday, January 31st. They set an “inline” rating and a $42.00 price objective for the company. Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a report on Wednesday, January 15th. Janney Montgomery Scott downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company upped their price target on shares of NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, NNN REIT presently has a consensus rating of “Hold” and a consensus price target of $44.54.

NNN REIT Stock Performance

Shares of NNN opened at $40.84 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The firm’s 50 day moving average is $41.27 and its 200-day moving average is $41.39. NNN REIT has a 12-month low of $35.80 and a 12-month high of $49.57. The stock has a market capitalization of $7.68 billion, a P/E ratio of 19.00, a P/E/G ratio of 2.06 and a beta of 0.92.

NNN REIT (NYSE:NNN) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $230.85 million during the quarter, compared to analysts’ expectations of $219.68 million. NNN REIT had a net margin of 45.65% and a return on equity of 9.28%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. Equities research analysts anticipate that NNN REIT will post 3.33 EPS for the current fiscal year.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.32 annualized dividend and a dividend yield of 5.68%. NNN REIT’s dividend payout ratio is 108.41%.

Institutional Trading of NNN REIT

A number of institutional investors have recently bought and sold shares of NNN. Lindbrook Capital LLC increased its position in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 305 shares during the last quarter. Strengthening Families & Communities LLC lifted its holdings in shares of NNN REIT by 19.5% during the 1st quarter. Strengthening Families & Communities LLC now owns 2,283 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 372 shares during the last quarter. Steph & Co. grew its stake in shares of NNN REIT by 8.2% in the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 429 shares in the last quarter. DGS Capital Management LLC increased its holdings in NNN REIT by 9.5% in the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 461 shares during the last quarter. Finally, Brooklyn Investment Group increased its holdings in NNN REIT by 140.8% in the first quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 469 shares during 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.