NNN REIT (NYSE:NNN) Price Target Raised to $44.00 at Evercore ISI

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.

Other analysts have also recently issued reports about the stock. UBS Group decreased their target price on shares of NNN REIT from $44.00 to $43.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Barclays reduced their price objective on NNN REIT from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Finally, 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $44.62.

NNN REIT Price Performance

NYSE:NNN traded up $0.09 during trading hours on Wednesday, reaching $43.65. The stock had a trading volume of 930,109 shares, compared to its average volume of 1,203,965. The stock has a market capitalization of $8.20 billion, a PE ratio of 20.40, a PEG ratio of 4.09 and a beta of 0.92. NNN REIT has a 52 week low of $35.80 and a 52 week high of $49.57. The company has a 50 day moving average price of $41.92 and a two-hundred day moving average price of $41.11. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.58 and a current ratio of 0.58.

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

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.32%. The ex-dividend date was Wednesday, April 30th. NNN REIT's dividend payout ratio (DPR) is presently 108.41%.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently made changes to their positions in NNN. Brooklyn Investment Group lifted its holdings in NNN REIT by 140.8% during the 1st quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 469 shares in the last quarter. Putney Financial Group LLC purchased a new position in shares of NNN REIT during the fourth quarter worth approximately $38,000. Lindbrook Capital LLC raised its stake 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 acquiring an additional 305 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of NNN REIT in the fourth quarter valued at approximately $42,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of NNN REIT in the first quarter valued at approximately $57,000. 89.96% of the stock is currently owned by institutional investors.

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.