NNN REIT (NYSE:NNN) Raised to "Overweight" at Morgan Stanley

Key Points

• Morgan Stanley upgraded NNN REIT to “overweight” from “equal weight” and set a $50 price target, implying roughly 19% upside from the prior close.
• Analyst sentiment remains mixed: NNN has a consensus “hold” rating and an average target price of $47.60, based on four buys, eight holds, and two sells.
• NNN recently exceeded quarterly earnings expectations, reporting $0.52 EPS versus the $0.51 consensus and $244.27 million in revenue versus $240.19 million expected; institutional investors own nearly 90% of its shares.

NNN REIT (NYSE:NNN - Get Free Report) was upgraded by Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $50.00 price objective on the real estate investment trust's stock. Morgan Stanley's target price would indicate a potential upside of 18.99% from the stock's previous close.

NNN has been the subject of several other reports. B. Riley Financial reiterated a "neutral" rating and set a $47.50 price objective (up from $46.00) on shares of NNN REIT in a research note on Wednesday, August 12th. Huntington started coverage on shares of NNN REIT in a research note on Wednesday, July 15th. They set an "outperform" rating and a $51.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of NNN REIT from $49.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Tuesday, September 1st. Wall Street Zen raised NNN REIT from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Finally, Weiss Ratings lowered shares of NNN REIT from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, September 14th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $47.60.

NNN REIT Stock Performance

Shares of NNN traded up $0.47 during trading hours on Monday, hitting $42.02. The stock had a trading volume of 190,841 shares, compared to its average volume of 1,595,264. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a 50-day moving average price of $46.23 and a 200 day moving average price of $45.24. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 6.71 and a beta of 0.79. NNN REIT has a fifty-two week low of $38.90 and a fifty-two week high of $50.00.

NNN REIT (NYSE:NNN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%.The firm had revenue of $244.27 million during the quarter, compared to the consensus estimate of $240.19 million. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. As a group, research analysts anticipate that NNN REIT will post 3.51 EPS for the current year.

Institutional Trading of NNN REIT

Several institutional investors have recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC increased its stake in NNN REIT by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,999 shares of the real estate investment trust's stock valued at $252,000 after purchasing an additional 251 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of NNN REIT by 155.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 550 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 335 shares in the last quarter. Arizona State Retirement System raised its position in NNN REIT by 0.7% during the second quarter. Arizona State Retirement System now owns 52,497 shares of the real estate investment trust's stock valued at $2,443,000 after purchasing an additional 354 shares in the last quarter. GAMMA Investing LLC raised its holdings in NNN REIT by 24.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,917 shares of the real estate investment trust's stock valued at $136,000 after buying an additional 573 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new position in shares of NNN REIT in the 2nd quarter valued at approximately $27,000. 89.96% of the stock is currently owned by institutional investors.

About NNN REIT

NNN REIT NYSE: NNN is a real estate investment trust that owns and manages a diversified portfolio of retail properties across the United States. The company primarily invests in freestanding properties that are leased to tenants under long-term, triple-net agreements, which generally require tenants to pay property taxes, insurance and maintenance costs in addition to rent.

NNN REIT's properties serve a range of retail and service-oriented businesses, including convenience stores, restaurants, automotive service locations, auto parts retailers and other necessity-based retailers.

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