NNN REIT (NYSE:NNN) Price Target Raised to $44.00

NNN REIT (NYSE:NNN) had its target price raised by BNP Paribas Exane from $43.00 to $44.00 in a research report report published on Thursday morning, MarketBeat Ratings reports. BNP Paribas Exane currently has a strong sell rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. UBS Group reduced their price target on NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Wells Fargo & Company upped their target price on NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Tuesday, January 20th. B. Riley Financial reissued a “neutral” rating and set a $43.00 price objective (down from $44.00) on shares of NNN REIT in a research report on Friday, November 14th. Finally, Barclays decreased their price objective on shares of NNN REIT from $44.00 to $43.00 and set an “underweight” rating for the company in a report on Monday, October 20th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NNN REIT currently has an average rating of “Reduce” and an average target price of $44.61.

NNN REIT Trading Up 1.7%

Shares of NNN opened at $44.36 on Thursday. The stock has a market capitalization of $8.43 billion, a P/E ratio of 21.43, a PEG ratio of 3.16 and a beta of 0.86. NNN REIT has a twelve month low of $35.80 and a twelve month high of $44.58. The company has a quick ratio of 2.44, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $41.16 and a two-hundred day simple moving average of $41.57.

NNN REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.4%. NNN REIT’s dividend payout ratio is currently 115.38%.

Institutional Trading of NNN REIT

A number of hedge funds have recently made changes to their positions in NNN. Knights of Columbus Asset Advisors LLC bought a new position in NNN REIT in the 3rd quarter valued at approximately $879,000. SG Americas Securities LLC lifted its holdings in shares of NNN REIT by 616.2% during the third quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock valued at $3,082,000 after purchasing an additional 62,299 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 4.4% during the third quarter. Sound Income Strategies LLC now owns 434,193 shares of the real estate investment trust’s stock valued at $18,219,000 after buying an additional 18,135 shares during the last quarter. Transcend Capital Advisors LLC purchased a new stake in shares of NNN REIT during the third quarter valued at $221,000. Finally, Strengthening Families & Communities LLC increased its holdings in NNN REIT by 279.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 7,285 shares of the real estate investment trust’s stock worth $322,000 after buying an additional 5,365 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

About NNN REIT

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.