NNN REIT (NYSE:NNN) Price Target Raised to $44.00 at Wells Fargo & Company

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

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a report on Wednesday, January 15th. Jefferies Financial Group downgraded shares of NNN REIT from a “buy” rating to a “hold” rating and cut their price objective for the stock from $52.00 to $43.00 in a research report on Thursday, January 2nd. Janney Montgomery Scott cut NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Wednesday, January 15th. B. Riley reissued a “neutral” rating and issued a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. Finally, Evercore ISI started coverage on NNN REIT in a report on Friday, January 31st. They set an “inline” rating and a $42.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, NNN REIT presently has an average rating of “Hold” and a consensus price target of $44.54.

NNN REIT Stock Up 0.7 %

Shares of NNN REIT stock opened at $43.15 on Monday. The company has a market capitalization of $8.09 billion, a P/E ratio of 20.07, a price-to-earnings-growth 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 has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The business has a 50-day moving average of $40.38 and a two-hundred day moving average of $43.59.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.58 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.38%. NNN REIT’s payout ratio is 107.91%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings 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 worth $110,000 after buying an additional 280 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in NNN REIT by 17.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after acquiring an additional 28,476 shares in the last quarter. Strengthening Families & Communities LLC increased its position in NNN REIT by 7.1% during the 3rd quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after buying an additional 4,170 shares in the last quarter. Goodman Financial Corp grew its stake in shares of NNN REIT by 1.2% in the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock worth $14,065,000 after acquiring an additional 3,388 shares during the last quarter. Finally, DGS Capital Management LLC bought a new position in NNN REIT in the 3rd quarter valued at approximately $236,000. Hedge funds and other 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.