NNN REIT (NYSE:NNN) Price Target Raised to $46.00

NNN REIT (NYSE:NNN) had its price objective 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.

A number of other equities research analysts have also recently commented on the stock. StockNews.com raised shares of NNN REIT from a hold rating to a buy rating in a research note on Friday, July 12th. Wells Fargo & Company cut their price objective 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. Finally, BNP Paribas raised shares of NNN REIT from an underperform rating to a neutral rating and set a $42.00 target price on the stock in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NNN REIT currently has a consensus rating of Hold and an average target price of $44.50.

NNN REIT Stock Up 0.5 %

NNN REIT stock opened at $46.11 on Thursday. The business’s 50-day moving average price is $42.52 and its 200 day moving average price is $41.84. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.04. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 3.62 and a beta of 1.07. NNN REIT has a 52 week low of $34.38 and a 52 week high of $46.75.

NNN REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.03%. This is an increase from NNN REIT’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, July 31st. NNN REIT’s dividend payout ratio (DPR) is presently 103.67%.

Institutional Trading of NNN REIT

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC increased its stake in NNN REIT by 451.3% during the 2nd quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock worth $11,285,000 after buying an additional 216,855 shares in the last quarter. 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 worth $48,000 after purchasing an additional 1,047 shares in the last quarter. Versant Capital Management Inc acquired a new position in NNN REIT in the 2nd quarter valued at $59,000. GAMMA Investing LLC lifted its holdings in NNN REIT by 93.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 1,123 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in NNN REIT during the 1st quarter worth $184,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

About NNN REIT

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.