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

NNN REIT (NYSE:NNN) had its target price reduced by equities researchers at UBS Group from $49.00 to $43.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective indicates a potential upside of 1.90% from the stock’s previous close.

A number of other research firms have also commented on NNN. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. Robert W. Baird increased their price target on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. B. Riley raised their target price on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target on the stock. in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.29.

NNN REIT Price Performance

NNN REIT stock opened at $42.20 on Thursday. The stock’s 50 day moving average is $46.73 and its 200 day moving average is $44.85. NNN REIT has a one year low of $38.49 and a one year high of $49.57. The firm has a market cap of $7.91 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.14 and a beta of 1.10. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85.

Hedge Funds Weigh In On NNN REIT

A number of institutional investors have recently modified their holdings of NNN. Sound Income Strategies LLC increased its stake in NNN REIT by 451.3% during the 2nd quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock valued at $11,285,000 after purchasing an additional 216,855 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of 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. Handelsbanken Fonder AB lifted its position in NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after acquiring an additional 15,100 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in NNN REIT during the 1st quarter valued at about $184,000. Finally, Strengthening Families & Communities LLC increased its holdings 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 worth $3,066,000 after purchasing an additional 4,170 shares in 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.