NNN REIT (NYSE:NNN) Given New $46.00 Price Target at Evercore ISI

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 - Get Free Report) had its target price lifted by Evercore ISI from $44.00 to $46.00 in a report issued on Monday,Benzinga reports. The firm presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price would indicate a potential upside of 6.72% from the company's previous close.

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

NNN REIT Stock Performance

Shares of NYSE:NNN traded up $0.09 during midday trading on Monday, hitting $43.11. The stock had a trading volume of 68,100 shares, compared to its average volume of 1,277,381. The company has a market capitalization of $8.14 billion, a PE ratio of 20.52, a P/E/G ratio of 3.91 and a beta of 0.95. The stock has a 50 day moving average price of $42.45 and a two-hundred day moving average price of $41.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. NNN REIT has a 1 year low of $35.80 and a 1 year high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The business had revenue of $226.80 million for the quarter, compared to the consensus estimate of $224.26 million. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. As a group, equities analysts predict 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. Chung Wu Investment Group LLC acquired a new stake in shares of NNN REIT during the second quarter worth $30,000. Brooklyn Investment Group grew its position 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 worth $34,000 after acquiring an additional 469 shares during the last quarter. Putney Financial Group LLC bought a new position in shares of NNN REIT during the fourth quarter worth about $38,000. Inlight Wealth Management LLC bought a new position in shares of NNN REIT during the first quarter worth about $57,000. Finally, NBC Securities Inc. grew its position in shares of NNN REIT by 104,000.0% during the first quarter. NBC Securities Inc. now owns 2,082 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 2,080 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.

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