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

NNN REIT (NYSE:NNN) had its price objective cut by UBS Group from $44.00 to $43.00 in a report issued on Tuesday morning, MarketBeat.com reports. They currently have a neutral rating on the real estate investment trust’s stock.

NNN has been the topic of a number of other research reports. Barclays increased their price objective on shares of NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. B. Riley reaffirmed a “neutral” rating and set a $43.00 price target (down previously from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Evercore ISI initiated coverage on NNN REIT in a report on Friday, January 31st. They issued an “inline” rating and a $42.00 price objective for the company. 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 note on Wednesday, January 15th. Finally, Royal Bank of Canada cut their price objective on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.54.

NNN REIT Stock Performance

NNN REIT stock opened at $41.44 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. NNN REIT has a 12 month low of $35.80 and a 12 month high of $49.57. The company has a fifty day moving average price of $41.19 and a two-hundred day moving average price of $41.35. The company has a market cap of $7.79 billion, a PE ratio of 19.27, a P/E/G ratio of 2.06 and a beta of 0.92.

NNN REIT (NYSE:NNN) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The business 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 company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. Research analysts expect that NNN REIT will post 3.33 earnings per share for the current year.

NNN REIT Announces Dividend

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

Institutional Trading of NNN REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allstate Corp increased its holdings in shares of NNN REIT by 159.5% in the first quarter. Allstate Corp now owns 25,510 shares of the real estate investment trust’s stock valued at $1,088,000 after buying an additional 15,678 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of NNN REIT by 140.8% in the 1st quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 469 shares during the last quarter. Strengthening Families & Communities LLC raised its position in shares of NNN REIT by 19.5% during the first quarter. Strengthening Families & Communities LLC now owns 2,283 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 372 shares during the period. Pathway Financial Advisers LLC raised its position in shares of NNN REIT by 16.2% during the first quarter. Pathway Financial Advisers LLC now owns 14,923 shares of the real estate investment trust’s stock worth $636,000 after purchasing an additional 2,083 shares during the period. Finally, Goodman Financial Corp lifted its holdings in shares of NNN REIT by 3.3% during the first quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust’s stock valued at $13,173,000 after purchasing an additional 9,755 shares during the last quarter. 89.96% of the stock is 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.