NNN REIT (NYSE:NNN) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group has increased its price target for NNN REIT from $42.00 to $44.00, suggesting a potential upside of 6.71% from the current price.
• NNN REIT’s stock has received varying ratings, with analysts giving it a majority “Hold” consensus and an average target price of $44.54.
• The company reported $0.85 earnings per share for the last quarter, slightly exceeding analysts' expectations, with a revenue increase of 4.6% year-over-year.

NNN REIT (NYSE:NNN - Get Free Report) had its price objective upped by analysts at UBS Group from $42.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price objective would suggest a potential upside of 6.71% from the company's current price.

A number of other equities analysts have also weighed in on the stock. Evercore ISI increased their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Barclays lowered shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $44.54.

NNN REIT Price Performance

Shares of NYSE:NNN traded up $0.09 during midday trading on Friday, reaching $41.23. 92,685 shares of the company were exchanged, compared to its average volume of 1,283,674. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The business's fifty day moving average is $42.63 and its two-hundred day moving average is $41.65. NNN REIT has a one year low of $35.80 and a one year high of $49.57. The stock has a market cap of $7.78 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 3.79 and a beta of 0.92.

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, topping analysts' consensus estimates of $0.84 by $0.01. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The firm had revenue of $226.80 million during the quarter, compared to analyst estimates of $224.26 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. NNN REIT's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts predict that NNN REIT will post 3.33 earnings per share for the current year.

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently made changes to their positions in NNN. Sound Income Strategies LLC increased its stake in NNN REIT by 8.2% in the 2nd quarter. Sound Income Strategies LLC now owns 416,058 shares of the real estate investment trust's stock worth $17,965,000 after buying an additional 31,505 shares during the period. Goodman Financial Corp increased its stake in NNN REIT by 3.3% in the 1st quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust's stock worth $13,173,000 after buying an additional 9,755 shares during the period. GAMMA Investing LLC increased its stake in NNN REIT by 3,301.7% in the 1st quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock worth $4,186,000 after buying an additional 95,253 shares during the period. Pinebridge Investments L.P. increased its stake in NNN REIT by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust's stock worth $2,028,000 after buying an additional 14,850 shares during the period. Finally, Red Spruce Capital LLC increased its stake in NNN REIT by 0.7% in the 2nd quarter. Red Spruce Capital LLC now owns 48,252 shares of the real estate investment trust's stock worth $2,084,000 after buying an additional 345 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.