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

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

Other research analysts have also issued research reports about the company. UBS Group cut their price objective on NNN REIT from $44.00 to $43.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. B. Riley reissued a "neutral" rating and set a $43.00 target price (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Wells Fargo & Company upped their price objective on shares of NNN REIT from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Royal Bank of Canada dropped their target price on NNN REIT from $45.00 to $43.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 12th. Finally, Evercore ISI began coverage on shares of NNN REIT in a report on Friday, January 31st. They issued an "inline" rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $44.46.

NNN REIT Stock Performance

NNN stock traded up $0.11 on Wednesday, hitting $41.12. The company had a trading volume of 806,088 shares, compared to its average volume of 1,180,540. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT has a 12-month low of $35.80 and a 12-month high of $49.57. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 2.06 and a beta of 0.92. The stock's 50-day simple moving average is $41.10 and its 200 day simple moving average is $41.24.

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

Institutional Trading of NNN REIT

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in NNN REIT by 3,301.7% during the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock worth $4,186,000 after purchasing an additional 95,253 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of NNN REIT by 3,469.0% during the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust's stock worth $3,729,000 after buying an additional 88,736 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of NNN REIT by 11.4% during the 1st 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 during the last quarter. Allstate Corp boosted its position in shares of NNN REIT by 159.5% in the 1st quarter. Allstate Corp now owns 25,510 shares of the real estate investment trust's stock worth $1,088,000 after buying an additional 15,678 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its stake in NNN REIT by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust's stock valued at $2,028,000 after acquiring an additional 14,850 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

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.