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

NNN REIT (NYSE:NNN) had its price target trimmed by UBS Group from $44.00 to $43.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on NNN. Royal Bank of Canada decreased their target price on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 12th. Barclays upped their price target on NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a 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 objective for the company. in a research report on Wednesday, January 15th. Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Wednesday, January 15th. Finally, B. Riley reaffirmed a “neutral” rating and set a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, NNN REIT has an average rating of “Hold” and an average price target of $44.54.

NNN REIT Trading Down 1.6%

Shares of NNN stock opened at $40.84 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $41.27 and its two-hundred day moving average is $41.39. The company has a market cap of $7.68 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92. NNN REIT has a 12 month low of $35.80 and a 12 month high of $49.57.

NNN REIT (NYSE:NNN) last released 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 analyst estimates of $219.68 million. NNN REIT had a net margin of 45.65% and a return on equity of 9.28%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. Equities analysts predict that NNN REIT will post 3.33 EPS for the current year.

NNN REIT Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings 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 valued at $41,000 after buying an additional 305 shares during the period. 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 worth $97,000 after acquiring an additional 372 shares during the period. Steph & Co. lifted its holdings in shares of NNN REIT by 8.2% during the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 429 shares during the period. DGS Capital Management LLC boosted its position in shares of NNN REIT by 9.5% during the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $218,000 after acquiring an additional 461 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake 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 valued at $34,000 after acquiring an additional 469 shares during the period. 89.96% of the stock is owned by institutional investors.

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.