NNN REIT (NYSE:NNN) Given New $44.00 Price Target at Wells Fargo & Company

NNN REIT (NYSE:NNN) had its price objective hoisted by Wells Fargo & Company from $41.00 to $44.00 in a research note released on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on NNN REIT in a research note on Wednesday, December 11th. They set a “hold” rating and a $46.00 price objective on the stock. Jefferies Financial Group lowered NNN REIT from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $52.00 to $43.00 in a research note on Thursday, January 2nd. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Wednesday, January 15th. Barclays lifted their price target on NNN REIT from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Finally, UBS Group decreased their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.54.

NNN REIT Price Performance

NNN REIT stock opened at $42.08 on Monday. The stock’s fifty day moving average price is $40.45 and its two-hundred day moving average price is $43.55. NNN REIT has a one year low of $37.55 and a one year high of $49.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market cap of $7.89 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s payout ratio is presently 107.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NNN. Putney Financial Group LLC acquired a new position in shares of NNN REIT in the 4th quarter valued at about $38,000. Lindbrook Capital LLC increased its position in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 305 shares in the last quarter. Millstone Evans Group LLC bought a new stake in NNN REIT in the 4th quarter valued at about $42,000. Farther Finance Advisors LLC increased its position in NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 280 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in NNN REIT by 882.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 4,449 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.