NNN REIT (NYSE:NNN) Stock Gets Price Target Bump from Truist Financial

Key Points

• Truist Financial raised its price target on NNN REIT from $45 to $46, while maintaining a Hold rating; the target implied 10.81% upside from the prior close.
• Analysts’ consensus rating was Hold, with an average price target of $46.56; views ranged from Strong Buy to Sell.
• NNN REIT beat quarterly estimates, reporting EPS of $0.57 versus $0.52 expected and revenue of $249.68 million versus $245.37 million expected.

NNN REIT (NYSE:NNN - Get Free Report) had its target price boosted by investment analysts at Truist Financial from $45.00 to $46.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price would suggest a potential upside of 10.81% from the company's previous close.

NNN has been the subject of a number of other reports. Robert W. Baird set a $49.00 price target on shares of NNN REIT in a research report on Thursday, August 6th. Barclays decreased their target price on shares of NNN REIT from $47.00 to $43.00 and set an "underweight" rating for the company in a research note on Tuesday, October 20th. Citigroup lowered their price objective on shares of NNN REIT from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Friday. Weiss Ratings downgraded NNN REIT from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Finally, Huntington initiated coverage on NNN REIT in a research note on Wednesday, November 4th. They set a "strong-buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $46.56.

NNN REIT Trading Down 0.4%

NNN REIT stock traded down $0.18 during mid-day trading on Tuesday, reaching $41.51. 233,350 shares of the company traded hands, compared to its average volume of 1,797,877. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.58 and a quick ratio of 1.15. NNN REIT has a 52-week low of $38.90 and a 52-week high of $50.00. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 5.66 and a beta of 0.77. The firm's 50 day moving average price is $41.88 and its 200 day moving average price is $44.24.

NNN REIT (NYSE:NNN - Get Free Report) last posted its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. NNN REIT had a net margin of 40.89% and a return on equity of 8.93%. The firm had revenue of $249.68 million during the quarter, compared to analysts' expectations of $245.37 million. On average, analysts anticipate that NNN REIT will post 3.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NNN REIT

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in NNN REIT during the second quarter valued at approximately $1,242,752,000. Equity Investment Corp boosted its holdings in NNN REIT by 46.1% during the 3rd quarter. Equity Investment Corp now owns 2,435,846 shares of the real estate investment trust's stock valued at $100,089,000 after acquiring an additional 768,831 shares during the period. Bank of America Corp DE bought a new position in NNN REIT in the 2nd quarter valued at $87,737,000. Bank of New York Mellon Corp purchased a new stake in NNN REIT in the second quarter worth $85,430,000. Finally, Jefferies Financial Group Inc. purchased a new stake in NNN REIT in the second quarter worth $66,584,000. Institutional investors own 89.96% of the company's stock.

About NNN REIT

NNN REIT, Inc is a real estate investment trust that owns and manages freestanding retail properties across the United States. Its portfolio includes properties leased to businesses in a range of retail categories.

The company primarily uses long-term, single-tenant net leases. Under these arrangements, tenants generally pay property expenses such as taxes, insurance and maintenance in addition to rent.

Founded in 1984, the company was formerly known as National Retail Properties before adopting the NNN REIT name in 2023.

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