Barclays Lowers NNN REIT (NYSE:NNN) Price Target to $46.00

NNN REIT (NYSE:NNN - Get Free Report) had its price target cut by analysts at Barclays from $47.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Barclays's price target indicates a potential upside of 11.86% from the company's current price.

A number of other research firms have also recently weighed in on NNN. B. Riley restated a "neutral" rating and issued a $43.00 price target (down previously from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. UBS Group cut their target price 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. Evercore ISI started coverage on shares of NNN REIT in a research note on Friday, January 31st. They set an "inline" rating and a $42.00 price objective for the company. Wells Fargo & Company boosted 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 report on Monday, March 10th. Finally, Royal Bank of Canada dropped their price target on shares of NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $44.46.

NNN REIT Stock Performance

NYSE NNN traded up $0.11 during trading hours on Wednesday, hitting $41.12. The company had a trading volume of 806,088 shares, compared to its average volume of 1,177,888. The business has a 50 day moving average of $41.10 and a 200-day moving average of $41.24. The company has a market cap of $7.73 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92. NNN REIT has a 1-year low of $35.80 and a 1-year high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55.

NNN REIT (NYSE:NNN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. The firm had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. During the same quarter last year, the company posted $0.84 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that NNN REIT will post 3.33 EPS for the current year.

Hedge Funds Weigh In On NNN REIT

Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its holdings in shares of NNN REIT by 140.8% in the 1st quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 469 shares during the period. Putney Financial Group LLC acquired a new stake in shares of NNN REIT in the fourth quarter valued at approximately $38,000. Lindbrook Capital LLC raised its holdings in shares of NNN REIT by 43.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 305 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in NNN REIT in the 4th quarter valued at approximately $42,000. Finally, Inlight Wealth Management LLC bought a new stake in NNN REIT during the 1st quarter valued at $57,000. 89.96% of the stock is currently owned by institutional investors.

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.