NNN REIT (NYSE:NNN) Receives Underweight Rating from Barclays

NNN REIT (NYSE:NNN - Get Free Report)'s stock had its "underweight" rating reiterated by analysts at Barclays in a note issued to investors on Monday,Benzinga reports. They presently have a $44.00 price objective on the real estate investment trust's stock, down from their prior price objective of $46.00. Barclays's price objective suggests a potential upside of 2.79% from the stock's current price.

A number of other brokerages have also recently weighed in on NNN. UBS Group dropped their price objective on NNN REIT from $43.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Evercore ISI lifted their price objective on NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $44.38.

NNN REIT Trading Up 0.1%

Shares of NNN traded up $0.06 during trading hours on Monday, reaching $42.81. 865,457 shares of the company traded hands, compared to its average volume of 1,213,044. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 4.01 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 company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.03. The stock's fifty day moving average price is $42.34 and its 200 day moving average price is $41.33.

NNN REIT (NYSE:NNN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The company 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%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. Sell-side analysts forecast that NNN REIT will post 3.33 earnings per share for the current year.

Institutional Investors Weigh In On NNN REIT

A number of institutional investors have recently made changes to their positions in NNN. Brooklyn Investment Group increased its holdings in shares of NNN REIT by 140.8% in the 1st quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock worth $34,000 after buying an additional 469 shares during the last quarter. Putney Financial Group LLC bought a new position in NNN REIT during the 4th quarter valued at about $38,000. Millstone Evans Group LLC bought a new position in NNN REIT during the 4th quarter valued at about $42,000. Inlight Wealth Management LLC bought a new position in NNN REIT during the 1st quarter valued at about $57,000. Finally, NBC Securities Inc. grew its holdings in NNN REIT by 104,000.0% during the 1st 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. Hedge funds and other institutional investors 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.

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