NNN REIT (NYSE:NNN) Given New $44.00 Price Target at Evercore ISI

NNN REIT (NYSE:NNN) had its price target reduced by equities researchers at Evercore ISI from $46.00 to $44.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price suggests a potential upside of 9.62% from the company’s current price.

Several other analysts have also recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of NNN REIT in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on shares of NNN REIT from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. B. Riley increased their target price on shares of NNN REIT from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. UBS Group raised their price target on shares of NNN REIT from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Finally, Barclays dropped their price objective on shares of NNN REIT from $44.00 to $43.00 and set an “underweight” rating for the company in a research note on Monday, October 20th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.10.

NNN REIT Trading Up 0.8%

NNN stock opened at $40.14 on Wednesday. NNN REIT has a 12-month low of $35.80 and a 12-month high of $44.81. The business’s 50-day moving average is $42.25 and its 200 day moving average is $42.16. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 3.91 and a beta of 0.95.

NNN REIT (NYSE:NNN) last announced its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $226.80 million during the quarter, compared to analysts’ expectations of $224.26 million. NNN REIT had a return on equity of 9.00% and a net margin of 43.90%.The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, sell-side analysts anticipate that NNN REIT will post 3.33 EPS for the current fiscal year.

Institutional Trading of NNN REIT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC raised its position in shares of NNN REIT by 4.4% during the 3rd 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 period. Goodman Financial Corp increased its stake in NNN REIT by 3.3% during the first quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust’s stock worth $13,173,000 after acquiring an additional 9,755 shares during the last quarter. Captrust Financial Advisors raised its position in NNN REIT by 3.5% in the second quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust’s stock valued at $4,977,000 after purchasing an additional 3,897 shares during the period. Amalgamated Bank lifted its stake in shares of NNN REIT by 0.4% in the 3rd quarter. Amalgamated Bank now owns 86,483 shares of the real estate investment trust’s stock valued at $3,682,000 after purchasing an additional 311 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of NNN REIT by 616.2% during the 3rd quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock worth $3,082,000 after purchasing an additional 62,299 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.