UBS Group Has Lowered Expectations for NNN REIT (NYSE:NNN) Stock Price

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

A number of other brokerages also recently issued reports on NNN. Royal Bank of Canada reduced 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 report on Friday, November 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price target (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research note on Monday, November 4th. Finally, Robert W. Baird raised their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, NNN REIT currently has an average rating of “Hold” and an average price target of $46.29.

NNN REIT Stock Up 0.9 %

Shares of NYSE:NNN opened at $42.20 on Thursday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.13 and a beta of 1.10. The business’s 50 day moving average is $46.73 and its 200 day moving average is $44.88. NNN REIT has a 12-month low of $38.49 and a 12-month high of $49.57.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.50%. The ex-dividend date was Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Institutional Investors Weigh In On NNN REIT

Several institutional investors have recently made changes to their positions in NNN. LRI Investments LLC bought a new stake in shares of NNN REIT during the 1st quarter valued at $34,000. Bruce G. Allen Investments LLC increased its position in shares of NNN REIT by 1,276.8% during 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 buying an additional 1,047 shares during the period. Versant Capital Management Inc purchased a new stake in shares of NNN REIT in the second quarter worth about $59,000. GAMMA Investing LLC boosted its position in shares of NNN REIT by 93.2% in the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,123 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in NNN REIT by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 280 shares in the last quarter. Hedge funds and other institutional investors 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.