NNN REIT (NYSE:NNN) PT Raised to $49.00

NNN REIT (NYSE:NNN) had its target price upped by equities researchers at UBS Group from $48.00 to $49.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target would suggest a potential upside of 0.51% from the stock’s previous close.

Several other analysts also recently weighed in on NNN. Raymond James upped their price objective on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. B. Riley raised their price target on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of NNN REIT from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on shares of NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.33.

NNN REIT Trading Down 1.2 %

Shares of NNN REIT stock opened at $48.75 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. NNN REIT has a 12-month low of $34.61 and a 12-month high of $49.57. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.79 and a beta of 1.09. The firm’s 50-day moving average price is $47.52 and its two-hundred day moving average price is $44.30.

NNN REIT (NYSE:NNN) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The firm had revenue of $216.81 million for the quarter, compared to analyst estimates of $212.30 million. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that NNN REIT will post 3.3 earnings per share for the current fiscal year.

Insider Transactions at NNN REIT

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the completion of the transaction, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at $3,270,161.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NNN. LRI Investments LLC acquired a new stake in shares of NNN REIT during the first quarter worth $34,000. Riverview Trust Co acquired a new stake in NNN REIT during the 1st quarter worth about $43,000. Bruce G. Allen Investments LLC grew its holdings in NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,047 shares during the period. Versant Capital Management Inc acquired a new position in shares of NNN REIT in the 2nd quarter valued at about $59,000. Finally, GAMMA Investing LLC lifted its stake in shares of NNN REIT by 93.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 1,123 shares during the period. Institutional investors and hedge funds 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.