NNN REIT (NYSE:NNN) Given New $42.00 Price Target at UBS Group

NNN REIT (NYSE:NNN - Get Free Report) had its price objective reduced by equities researchers at UBS Group from $43.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price target suggests a potential downside of 1.73% from the stock's current price.

NNN has been the subject of several other reports. Evercore ISI increased their price target on shares of NNN REIT from $43.00 to $44.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Barclays decreased their price target on shares of NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $44.54.

NNN REIT Price Performance

Shares of NYSE:NNN remained flat at $42.74 during midday trading on Wednesday. 734,032 shares of the stock were exchanged, compared to its average volume of 1,214,437. NNN REIT has a 12-month low of $35.80 and a 12-month high of $49.57. The business has a 50-day moving average of $42.34 and a 200 day moving average of $41.32. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 4.01 and a beta of 0.92. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.03.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The business had revenue of $230.85 million during the quarter, compared to analyst estimates of $219.68 million. During the same period last year, the firm posted $0.84 EPS. The company's revenue was up 7.2% on a year-over-year basis. On average, research analysts predict that NNN REIT will post 3.33 EPS for the current year.

Hedge Funds Weigh In On NNN REIT

A number of hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC lifted its holdings in NNN REIT by 8.2% during the second quarter. Sound Income Strategies LLC now owns 416,058 shares of the real estate investment trust's stock worth $17,965,000 after acquiring an additional 31,505 shares in the last quarter. Goodman Financial Corp increased its position in NNN REIT by 3.3% during the first quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust's stock worth $13,173,000 after buying an additional 9,755 shares during the last quarter. GAMMA Investing LLC increased its position in NNN REIT by 3,301.7% during the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock worth $4,186,000 after buying an additional 95,253 shares during the last quarter. Cibc World Markets Corp increased its position in NNN REIT by 12.4% during the fourth quarter. Cibc World Markets Corp now owns 54,572 shares of the real estate investment trust's stock worth $2,229,000 after buying an additional 6,035 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its position in NNN REIT by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust's stock worth $2,028,000 after buying an additional 14,850 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.