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

Key Points

• Evercore ISI has raised the target price for NNN REIT from $44.00 to $46.00, indicating a potential upside of 6.72% from its previous close.
• NNN REIT recently reported earnings of $0.85 per share, beating the consensus estimate of $0.84, with a revenue of $226.80 million.
• Analysts have mixed ratings for NNN REIT, with one buy rating, ten holds, and two sells, leading to a consensus rating of "Reduce" and an average target price of $44.33.

NNN REIT (NYSE:NNN - Free Report) had its price objective boosted by Evercore ISI from $44.00 to $46.00 in a research note released on Monday, MarketBeat reports. Evercore ISI currently has an in-line rating on the real estate investment trust's stock.

Other research analysts also recently issued reports about the company. Barclays downgraded NNN REIT from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, July 22nd. UBS Group raised their price objective on NNN REIT from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Finally, Wells Fargo & Company cut their price objective on NNN REIT from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, NNN REIT has a consensus rating of "Reduce" and a consensus target price of $44.33.

NNN REIT Stock Down 0.4%

NNN REIT stock traded down $0.19 during mid-day trading on Monday, hitting $42.10. The company's stock had a trading volume of 541,509 shares, compared to its average volume of 1,280,816. The firm's 50 day moving average is $42.41 and its 200 day moving average is $41.99. The company has a market cap of $7.95 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 3.87 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. NNN REIT has a 52-week low of $35.80 and a 52-week high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. NNN REIT had a return on equity of 9.00% and a net margin of 43.90%.The company had revenue of $226.80 million during the quarter, compared to the consensus estimate of $224.26 million. During the same period last year, the business earned $0.84 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. On average, analysts anticipate that NNN REIT will post 3.33 earnings per share for the current year.

NNN REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.7%. The ex-dividend date was Thursday, July 31st. This is a positive change from NNN REIT's previous quarterly dividend of $0.58. NNN REIT's dividend payout ratio is presently 114.29%.

Hedge Funds Weigh In On NNN REIT

Several large investors have recently made changes to their positions in NNN. Chung Wu Investment Group LLC acquired a new position in shares of NNN REIT during the second quarter valued at $30,000. Brooklyn Investment Group lifted its stake in shares of NNN REIT by 140.8% during the first quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 469 shares during the period. Putney Financial Group LLC acquired a new position in shares of NNN REIT during the fourth quarter valued at $38,000. Inlight Wealth Management LLC acquired a new position in shares of NNN REIT during the first quarter valued at $57,000. Finally, NBC Securities Inc. increased its holdings in NNN REIT by 104,000.0% in the first quarter. NBC Securities Inc. now owns 2,082 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 2,080 shares during 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.