Evercore ISI Forecasts Strong Price Appreciation for NNN REIT (NYSE:NNN) Stock

NNN REIT (NYSE:NNN - Free Report) had its price target increased by 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.

Several other equities research analysts have also issued reports on NNN. Barclays lowered their price objective on NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price objective on NNN REIT from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Finally, UBS Group lowered their price objective on NNN REIT from $44.00 to $43.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $44.62.

NNN REIT Price Performance

NNN REIT stock traded down $0.17 during midday trading on Wednesday, reaching $43.51. 866,390 shares of the stock traded hands, compared to its average volume of 1,206,010. The stock has a market cap of $8.18 billion, a P/E ratio of 20.33, a PEG ratio of 4.09 and a beta of 0.92. NNN REIT has a 12 month low of $35.80 and a 12 month high of $49.57. The stock's fifty day moving average is $42.03 and its 200-day moving average is $41.13. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.03.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $230.85 million during the quarter, compared to analyst estimates of $219.68 million. NNN REIT had a return on equity of 9.23% and a net margin of 45.09%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. As a group, equities research analysts anticipate that NNN REIT will post 3.33 EPS for the current year.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.32 annualized dividend and a yield of 5.33%. NNN REIT's dividend payout ratio (DPR) is presently 108.41%.

Institutional Trading of NNN REIT

A number of institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 11.4% in 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 purchasing an additional 39,289 shares in the last quarter. Goodman Financial Corp boosted its position in shares of NNN REIT by 3.3% in the 1st quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust's stock worth $13,173,000 after purchasing an additional 9,755 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of NNN REIT by 3,301.7% in the 1st 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 in the last quarter. Cibc World Markets Corp boosted its position in shares of NNN REIT by 12.4% in the 4th quarter. Cibc World Markets Corp now owns 54,572 shares of the real estate investment trust's stock worth $2,229,000 after purchasing an additional 6,035 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its position in shares of 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 worth $2,028,000 after purchasing an additional 14,850 shares in the last quarter. Institutional investors and hedge funds 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.