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

NNN REIT (NYSE:NNN) had its price target reduced by UBS Group from $44.00 to $43.00 in a research report sent to investors on Tuesday morning, MarketBeat reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on NNN. B. Riley reiterated a “neutral” rating and issued a $43.00 target price (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Evercore ISI started coverage on shares of NNN REIT in a research note on Friday, January 31st. They issued an “inline” rating and a $42.00 price objective for the company. Barclays increased their target price on shares of NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Janney Montgomery Scott cut NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Wednesday, January 15th. Finally, Morgan Stanley raised NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.54.

NNN REIT Trading Up 1.9%

NYSE NNN opened at $41.44 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT has a 1-year low of $35.80 and a 1-year high of $49.57. The firm’s fifty day simple moving average is $41.19 and its 200-day simple moving average is $41.35. The company has a market capitalization of $7.79 billion, a PE ratio of 19.27, a price-to-earnings-growth 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 the consensus estimate of $0.83 by $0.04. The company had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. As a group, sell-side analysts anticipate that NNN REIT will post 3.33 earnings per share for the current fiscal year.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.60%. The ex-dividend date was Wednesday, April 30th. NNN REIT’s dividend payout ratio is currently 108.41%.

Institutional Investors Weigh In On NNN REIT

Several hedge funds have recently modified their holdings of NNN. Sound Income Strategies LLC raised its stake in NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after purchasing an additional 30,146 shares during the last quarter. Goodman Financial Corp raised its position in shares of NNN REIT by 3.1% during the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock valued at $12,219,000 after buying an additional 9,054 shares during the last quarter. SG Americas Securities LLC raised its position in shares of NNN REIT by 3,469.0% during the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after buying an additional 88,736 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of NNN REIT in the fourth quarter valued at about $527,000. Finally, Red Spruce Capital LLC grew its position in NNN REIT by 16.9% during the fourth quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock worth $1,775,000 after buying an additional 6,289 shares in 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.