NNN REIT (NYSE:NNN) Lowered to Equal Weight Rating by Morgan Stanley

Key Points

• Morgan Stanley downgraded NNN REIT from overweight to equal weight, while keeping a $50 price target, which implies only modest upside from the current share price.
• Wall Street sentiment is mixed: the stock now has a consensus Hold rating, with 3 Buy, 9 Hold, and 2 Sell ratings, and a consensus price target of $46.32.
• NNN shares fell 1.4% to $48.87 in Monday trading, after the company recently reported quarterly EPS of $0.50, slightly below estimates, though revenue came in above expectations.

NNN REIT (NYSE:NNN - Get Free Report) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a research report issued on Monday, MarketBeat Ratings reports. They presently have a $50.00 price target on the real estate investment trust's stock. Morgan Stanley's price objective indicates a potential upside of 2.31% from the company's current price.

Several other equities research analysts also recently issued reports on NNN. Jefferies Financial Group initiated coverage on shares of NNN REIT in a research note on Monday, June 1st. They set a "hold" rating and a $47.00 price target on the stock. Royal Bank Of Canada lifted their target price on NNN REIT from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Wells Fargo & Company boosted their price target on NNN REIT from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 15th. Citigroup increased their price target on NNN REIT from $42.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded NNN REIT from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $46.32.

NNN REIT Stock Down 1.4%

Shares of NNN stock traded down $0.72 during trading hours on Monday, reaching $48.87. The company had a trading volume of 463,283 shares, compared to its average volume of 1,652,479. The company has a market capitalization of $9.30 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 7.64 and a beta of 0.80. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.63. NNN REIT has a twelve month low of $38.90 and a twelve month high of $50.00. The stock's fifty day simple moving average is $45.78 and its 200 day simple moving average is $44.12.

NNN REIT (NYSE:NNN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $240.42 million for the quarter, compared to analyst estimates of $237.75 million. NNN REIT had a return on equity of 8.81% and a net margin of 41.38%.The business's revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.87 earnings per share. NNN REIT has set its FY 2026 guidance at 3.480-3.540 EPS. As a group, sell-side analysts expect that NNN REIT will post 3.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC raised its position in shares of NNN REIT by 3,354.1% during the 1st quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 1,241 shares in the last quarter. Ascentis Independent Advisors acquired a new position in NNN REIT in the first quarter worth $76,000. GAMMA Investing LLC increased its stake in NNN REIT by 24.4% during the second quarter. GAMMA Investing LLC now owns 2,917 shares of the real estate investment trust's stock valued at $136,000 after purchasing an additional 573 shares during the last quarter. Hanson & Doremus Investment Management bought a new stake in NNN REIT during the fourth quarter valued at $187,000. Finally, Parallel Advisors LLC raised its holdings in shares of NNN REIT by 11.0% during the third quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust's stock worth $243,000 after purchasing an additional 567 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

NNN REIT Company Profile

NNN REIT NYSE: NNN, formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.

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