By otakuyassine3@gmail.com 
NNN REIT (NYSE:NNN – Free Report) had its price target hoisted by Wells Fargo & Company from $41.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.
A number of other brokerages have also issued reports on NNN. Jefferies Financial Group lowered shares of NNN REIT from a “buy” rating to a “hold” rating and cut their price objective for the company from $52.00 to $43.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of NNN REIT in a research note on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price target on the stock. Royal Bank of Canada cut their price objective on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 12th. UBS Group decreased their target price on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, B. Riley restated a “neutral” rating and set a $43.00 price target (down previously from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NNN REIT presently has an average rating of “Hold” and a consensus price target of $44.54.
Check Out Our Latest Report on NNN REIT
NNN REIT Trading Up 0.7 %
Shares of NNN REIT stock opened at $43.15 on Monday. 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 stock has a market capitalization of $8.09 billion, a PE ratio of 20.07, a P/E/G ratio of 2.06 and a beta of 1.10. NNN REIT has a 1-year low of $37.55 and a 1-year high of $49.57. The company’s fifty day simple moving average is $40.38 and its 200-day simple moving average is $43.59.
NNN REIT Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.58 per share. The ex-dividend date was Friday, January 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.38%. NNN REIT’s dividend payout ratio (DPR) is presently 107.91%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC lifted its position in shares of NNN REIT by 9.6% in the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after acquiring an additional 30,146 shares in the last quarter. Goodman Financial Corp increased its stake in NNN REIT by 3.1% during the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock worth $12,219,000 after acquiring an additional 9,054 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in NNN REIT by 17.8% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after purchasing an additional 28,476 shares during the period. SG Americas Securities LLC raised its holdings in NNN REIT by 3,469.0% in the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after buying an additional 88,736 shares during the period. Finally, Amalgamated Bank boosted its stake in NNN REIT by 1.7% during the fourth quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust’s stock worth $3,634,000 after buying an additional 1,521 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
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