Wells Fargo & Company Has Lowered Expectations for NNN REIT (NYSE:NNN) Stock Price

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 - Get Free Report) had its price objective lowered by research analysts at Wells Fargo & Company from $44.00 to $43.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective indicates a potential upside of 1.43% from the company's current price.

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

NNN REIT Price Performance

Shares of NNN REIT stock traded up $0.46 on Wednesday, hitting $42.40. The company had a trading volume of 92,379 shares, compared to its average volume of 1,279,611. The business has a 50-day simple moving average of $42.55 and a 200-day simple moving average of $41.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $8.00 billion, a PE ratio of 20.19, a PEG ratio of 3.82 and a beta of 0.92. NNN REIT has a 52 week low of $35.80 and a 52 week high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. The business had revenue of $226.80 million during the quarter, compared to analysts' expectations of $224.26 million. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The business's revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. Research analysts expect that NNN REIT will post 3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On NNN REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its position in NNN REIT by 3.5% in the 2nd quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust's stock worth $4,977,000 after buying an additional 3,897 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of NNN REIT by 266.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,540 shares of the real estate investment trust's stock valued at $239,000 after purchasing an additional 4,030 shares in the last quarter. Chung Wu Investment Group LLC bought a new position in shares of NNN REIT during the 2nd quarter valued at $30,000. Sound Income Strategies LLC raised its holdings in shares of NNN REIT by 8.2% during the 2nd quarter. Sound Income Strategies LLC now owns 416,058 shares of the real estate investment trust's stock valued at $17,965,000 after purchasing an additional 31,505 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of NNN REIT by 56.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,600 shares of the real estate investment trust's stock valued at $155,000 after purchasing an additional 1,299 shares in 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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