NNN REIT (NYSE:NNN) Given New $46.00 Price Target at UBS Group

NNN REIT (NYSE:NNN) had its target price raised by UBS Group from $41.00 to $46.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of NNN REIT from a hold rating to a buy rating in a report on Friday, July 12th. BNP Paribas upgraded shares of NNN REIT from an underperform rating to a neutral rating and set a $42.00 price target for the company in a report on Thursday, May 2nd. Finally, Wells Fargo & Company reduced their price target on shares of NNN REIT from $43.00 to $42.00 and set an equal weight rating for the company in a report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $44.50.

NNN REIT Stock Up 0.5 %

Shares of NYSE NNN opened at $46.11 on Thursday. The stock has a market cap of $8.45 billion, a P/E ratio of 21.15, a P/E/G ratio of 3.64 and a beta of 1.07. The firm has a 50 day moving average price of $42.52 and a 200 day moving average price of $41.83. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.52 and a current ratio of 0.52. NNN REIT has a 52-week low of $34.38 and a 52-week high of $46.75.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.58 per share. This is a boost from NNN REIT’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.32 annualized dividend and a yield of 5.03%. NNN REIT’s dividend payout ratio is presently 106.42%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its holdings in NNN REIT by 451.3% during the second quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock worth $11,285,000 after purchasing an additional 216,855 shares during the last quarter. Goodman Financial Corp boosted its holdings in NNN REIT by 3.1% during the fourth quarter. Goodman Financial Corp now owns 249,930 shares of the real estate investment trust’s stock worth $10,772,000 after purchasing an additional 7,480 shares during the last quarter. SG Americas Securities LLC boosted its holdings in NNN REIT by 95.5% during the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock worth $2,724,000 after purchasing an additional 31,141 shares during the last quarter. Cibc World Markets Corp acquired a new position in NNN REIT during the fourth quarter worth $2,625,000. Finally, Harbour Trust & Investment Management Co acquired a new position in NNN REIT during the fourth quarter worth $1,634,000. 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.