UBS Group Issues Pessimistic Forecast for NNN REIT (NYSE:NNN) Stock Price

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

A number of other equities research analysts also recently weighed in on NNN. Barclays dropped their target price on NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Evercore ISI lifted their price objective on NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, NNN REIT has an average rating of "Hold" and a consensus target price of $44.54.

NNN REIT Stock Performance

Shares of NYSE NNN remained flat at $42.74 during mid-day trading on Wednesday. The stock had a trading volume of 734,032 shares, compared to its average volume of 1,212,950. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.03. The stock has a market cap of $8.03 billion, a PE ratio of 19.97, a PEG ratio of 4.01 and a beta of 0.92. The company's fifty day moving average is $42.34 and its two-hundred day moving average is $41.31. NNN REIT has a fifty-two week low of $35.80 and a fifty-two week high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last released its earnings results 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. The firm had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. NNN REIT had a return on equity of 9.23% and a net margin of 45.09%. The company's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. Research analysts forecast that NNN REIT will post 3.33 earnings per share for the current year.

Hedge Funds Weigh In On NNN REIT

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of NNN REIT by 3,301.7% in the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock valued at $4,186,000 after purchasing an additional 95,253 shares during the last quarter. Goodman Financial Corp grew its position in shares of NNN REIT by 3.1% in the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust's stock valued at $12,219,000 after purchasing an additional 9,054 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of NNN REIT by 11.4% in the first quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust's stock valued at $16,401,000 after purchasing an additional 39,289 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of NNN REIT in the fourth quarter valued at approximately $593,000. Finally, Farther Finance Advisors LLC grew its position in NNN REIT by 25.6% during the first quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust's stock worth $114,000 after buying an additional 546 shares in the last quarter. Institutional investors and hedge funds 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.