UBS Group Raises NNN REIT (NYSE:NNN) Price Target to $49.00

NNN REIT (NYSE:NNN) had its target price boosted by UBS Group from $48.00 to $49.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on NNN. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 target price (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. B. Riley raised their price target on NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. StockNews.com raised NNN REIT from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Raymond James raised their target price on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada upped their price target on NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.33.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $48.99 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a market capitalization of $8.98 billion, a P/E ratio of 22.47, a P/E/G ratio of 3.79 and a beta of 1.09. The business has a 50-day moving average of $47.58 and a two-hundred day moving average of $44.35. NNN REIT has a fifty-two week low of $34.61 and a fifty-two week high of $49.57.

NNN REIT (NYSE:NNN) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The company had revenue of $216.81 million for the quarter, compared to the consensus estimate of $212.30 million. During the same period in the previous year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that NNN REIT will post 3.3 EPS for the current fiscal year.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.58 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.32 annualized dividend and a yield of 4.74%. NNN REIT’s dividend payout ratio (DPR) is 106.42%.

Insider Transactions at NNN REIT

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the transaction, the executive vice president now directly owns 69,756 shares in the company, valued at approximately $3,270,161.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by insiders.

Institutional Trading of NNN REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC acquired a new stake in NNN REIT during the first quarter valued at approximately $34,000. Riverview Trust Co bought a new stake in NNN REIT in the first quarter valued at $43,000. Bruce G. Allen Investments LLC raised its stake in 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 acquiring an additional 1,047 shares in the last quarter. Versant Capital Management Inc acquired a new position in NNN REIT during the second quarter worth $59,000. Finally, GAMMA Investing LLC lifted its holdings in shares of NNN REIT by 93.2% during 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. 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.