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

NNN REIT (NYSE:NNN) had its price target increased by equities research analysts at Evercore ISI from $43.00 to $44.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would suggest a potential upside of 1.13% from the stock’s current price.

A number of other research firms have also weighed in on NNN. Wells Fargo & Company lifted their price objective on shares of NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Barclays reduced their price target on shares of NNN REIT from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 21st. Finally, UBS Group reduced their price target on shares of NNN REIT from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, NNN REIT presently has an average rating of “Hold” and an average target price of $44.62.

NNN REIT Stock Down 0.4%

NNN REIT stock opened at $43.51 on Wednesday. NNN REIT has a 1-year low of $35.80 and a 1-year high of $49.57. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 4.10 and a beta of 0.92. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.03. The firm has a 50 day simple moving average of $41.98 and a 200 day simple moving average of $41.12.

NNN REIT (NYSE:NNN) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The business had revenue of $230.85 million during the quarter, compared to analyst estimates of $219.68 million. During the same period in the previous year, the business earned $0.84 EPS. NNN REIT’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that NNN REIT will post 3.33 earnings per share for the current year.

Institutional Trading of NNN REIT

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in NNN REIT by 3,301.7% in the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust’s stock worth $4,186,000 after buying an additional 95,253 shares in the last quarter. Goodman Financial Corp raised its stake in NNN REIT by 3.1% in the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock worth $12,219,000 after buying an additional 9,054 shares in the last quarter. Sound Income Strategies LLC raised its stake in NNN REIT by 11.4% in the first quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust’s stock worth $16,401,000 after buying an additional 39,289 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in NNN REIT in the fourth quarter worth about $593,000. Finally, Farther Finance Advisors LLC raised its stake in NNN REIT by 25.6% in the first quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 546 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.