Wells Fargo & Company Forecasts Strong Price Appreciation for NNN REIT (NYSE:NNN) Stock

Key Points

• Wells Fargo raised its price target on NNN REIT from $44 to $45 while keeping an equal weight rating, implying about 2.74% upside from the previous close.
• Analyst sentiment remains mixed overall: NNN REIT has a consensus Hold rating and an average target price of $45.65, even as several firms recently adjusted their targets and one upgraded the stock to buy.
• The stock recently traded at $43.80, near its 50-day average, after the company reported Q1 EPS of $0.50 versus expectations of $0.51 and revenue of $240.42 million, which topped forecasts.

NNN REIT (NYSE:NNN - Get Free Report) had its price target increased by Wells Fargo & Company from $44.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target suggests a potential upside of 2.74% from the company's previous close.

A number of other research firms have also recently weighed in on NNN. Royal Bank Of Canada upped their price target on NNN REIT from $43.00 to $44.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Weiss Ratings upgraded NNN REIT from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Robert W. Baird set a $46.00 price target on NNN REIT in a report on Thursday, February 12th. BNP Paribas Exane increased their target price on NNN REIT from $43.00 to $44.00 and gave the company a "strong sell" rating in a report on Thursday, February 12th. Finally, UBS Group increased their target price on NNN REIT from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, March 9th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, NNN REIT presently has a consensus rating of "Hold" and an average target price of $45.65.

NNN REIT Price Performance

Shares of NNN traded down $0.71 on Monday, reaching $43.80. The stock had a trading volume of 374,979 shares, compared to its average volume of 1,592,561. The firm has a market capitalization of $8.33 billion, a PE ratio of 21.28, a PEG ratio of 7.23 and a beta of 0.81. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average of $43.84 and a 200 day moving average of $42.68. NNN REIT has a twelve month low of $38.90 and a twelve month high of $46.03.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.01). The firm had revenue of $240.42 million during the quarter, compared to analyst estimates of $237.76 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 quarter in the prior year, the company earned $0.87 EPS. NNN REIT has set its FY 2026 guidance at 3.480-3.540 EPS. Sell-side analysts expect that NNN REIT will post 3.49 EPS for the current year.

Insiders Place Their Bets

In other NNN REIT news, EVP Jonathan Adamo sold 6,000 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $44.99, for a total transaction of $269,940.00. Following the transaction, the executive vice president owned 126,358 shares of the company's stock, valued at $5,684,846.42. This represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $44.98, for a total value of $1,492,976.16. Following the transaction, the chief executive officer directly owned 822,711 shares in the company, valued at approximately $37,005,540.78. This represents a 3.88% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC lifted its stake in shares of NNN REIT by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,999 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 251 shares during the period. Parallel Advisors LLC raised its position in shares of NNN REIT by 11.0% in the 3rd quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust's stock worth $243,000 after buying an additional 567 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of NNN REIT by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,544 shares of the real estate investment trust's stock worth $275,000 after buying an additional 658 shares during the period. Handelsbanken Fonder AB raised its position in shares of NNN REIT by 1.0% in the 4th quarter. Handelsbanken Fonder AB now owns 67,800 shares of the real estate investment trust's stock worth $2,687,000 after buying an additional 700 shares during the period. Finally, Root Financial Partners LLC raised its position in shares of NNN REIT by 3,354.1% in the 1st quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust's stock worth $54,000 after buying an additional 1,241 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

About NNN REIT

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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