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

NNN REIT (NYSE:NNN - Free Report) had its price objective trimmed by UBS Group from $49.00 to $43.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust's stock.

A number of other brokerages have also commented on NNN. Robert W. Baird boosted their price target on shares of NNN REIT from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Colliers Securities cut shares of NNN REIT from a "buy" rating to a "neutral" rating in a research report on Friday, November 1st. Royal Bank of Canada decreased their price objective on NNN REIT from $48.00 to $45.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. Raymond James increased their price target on NNN REIT from $47.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, August 21st. Finally, StockNews.com downgraded shares of NNN REIT from a "buy" rating to a "hold" rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, NNN REIT currently has a consensus rating of "Hold" and a consensus price target of $46.29.

NNN REIT Trading Down 1.3 %

NYSE NNN traded down $0.55 during trading hours on Thursday, reaching $41.82. The company's stock had a trading volume of 1,162,214 shares, compared to its average volume of 1,173,802. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. NNN REIT has a 52 week low of $38.49 and a 52 week high of $49.57. The stock has a market cap of $7.84 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.15 and a beta of 1.10. The firm has a fifty day simple moving average of $46.97 and a 200-day simple moving average of $44.86.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend is Thursday, October 31st. NNN REIT's dividend payout ratio (DPR) is 107.41%.

Institutional Trading of NNN REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LRI Investments LLC purchased a new position in shares of NNN REIT during the first quarter worth approximately $34,000. Bruce G. Allen Investments LLC increased its holdings in shares of NNN REIT by 1,276.8% in the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,047 shares during the period. Versant Capital Management Inc bought a new stake in shares of NNN REIT in the 2nd quarter valued at about $59,000. GAMMA Investing LLC boosted its holdings in NNN REIT by 93.2% during the 2nd 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 increased its stake in shares of NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust's stock worth $110,000 after buying an additional 280 shares during the period. 89.96% of the stock is currently 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.