NNN REIT (NYSE:NNN) Price Target Cut to $43.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has revised the price target for NNN REIT stock from $44.00 to $43.00, maintaining an "equal weight" rating, which suggests a potential upside of 1.43% from the current price.
• Analysts have mixed ratings on NNN REIT, with one "Buy," ten "Hold," and two "Sell" ratings, resulting in a consensus rating of "Reduce" and an average target price of $44.17.
• NNN REIT reported a quarterly earnings per share (EPS) of $0.85, exceeding the consensus estimate, and projected FY 2025 EPS guidance between 3.340-3.390.

NNN REIT (NYSE:NNN - Free Report) had its price objective lowered by Wells Fargo & Company from $44.00 to $43.00 in a research note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust's stock.

A number of other research firms have also weighed in on NNN. Barclays lowered shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, July 22nd. Evercore ISI raised their target price on shares of NNN REIT from $43.00 to $44.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Finally, UBS Group raised their target price on shares of NNN REIT from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $44.17.

NNN REIT Price Performance

NNN traded up $0.75 during trading on Wednesday, reaching $42.93. 1,307,039 shares of the company traded hands, compared to its average volume of 1,363,388. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. NNN REIT has a 12-month low of $35.80 and a 12-month high of $49.57. The firm has a fifty day simple moving average of $42.54 and a 200 day simple moving average of $41.88. The company has a market cap of $8.10 billion, a P/E ratio of 20.44, a PEG ratio of 3.90 and a beta of 0.95.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, beating 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 business had revenue of $226.80 million during the quarter, compared to analyst estimates of $224.26 million. During the same period last year, the firm posted $0.84 EPS. The company's revenue was up 4.6% on a year-over-year basis. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. On average, equities analysts forecast that NNN REIT will post 3.33 EPS for the current year.

NNN REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from NNN REIT's previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a yield of 5.6%. NNN REIT's payout ratio is presently 114.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Chung Wu Investment Group LLC purchased a new position in NNN REIT during the second quarter worth $30,000. Brooklyn Investment Group boosted its stake in 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 buying an additional 469 shares during the period. Putney Financial Group LLC purchased a new position in NNN REIT during the fourth quarter worth $38,000. Inlight Wealth Management LLC purchased a new position in NNN REIT during the first quarter worth $57,000. Finally, NBC Securities Inc. boosted its stake in 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 buying an additional 2,080 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.