NNN REIT (NYSE:NNN) Price Target Raised to $49.00

NNN REIT (NYSE:NNN) had its target price increased by Wells Fargo & Company from $45.00 to $49.00 in a report released on Wednesday morning, Marketbeat reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

NNN has been the topic of a number of other research reports. Citigroup upped their price target on NNN REIT from $42.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Raymond James Financial reaffirmed a “market perform” rating on shares of NNN REIT in a report on Tuesday, March 17th. Weiss Ratings upgraded NNN REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Morgan Stanley upped their target price on NNN REIT from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Finally, Barclays raised their price target on NNN REIT from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.32.

NNN REIT Stock Up 0.8%

NNN stock opened at $49.61 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10. The company’s 50-day moving average price is $45.78 and its 200 day moving average price is $44.09. NNN REIT has a 52 week low of $38.90 and a 52 week high of $50.00. The company has a market cap of $9.44 billion, a P/E ratio of 24.08, a P/E/G ratio of 7.58 and a beta of 0.80.

NNN REIT (NYSE:NNN) last issued its earnings results on Thursday, April 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). NNN REIT had a net margin of 41.38% and a return on equity of 8.81%. The company had revenue of $240.42 million during the quarter, compared to analysts’ expectations of $237.75 million. During the same period last year, the business posted $0.87 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. NNN REIT has set its FY 2026 guidance at 3.480-3.540 EPS. On average, research analysts expect that NNN REIT will post 3.49 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.62 per share. The ex-dividend date is Friday, July 31st. This represents a $2.48 annualized dividend and a dividend yield of 5.0%. This is an increase from NNN REIT’s previous quarterly dividend of $0.60. NNN REIT’s payout ratio is presently 116.50%.

Institutional Investors Weigh In On NNN REIT

A number of large investors have recently bought and sold shares of the stock. Red Spruce Capital LLC increased its position in NNN REIT by 2.1% during the second quarter. Red Spruce Capital LLC now owns 52,321 shares of the real estate investment trust’s stock worth $2,434,000 after buying an additional 1,066 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of NNN REIT by 24.4% in the second quarter. GAMMA Investing LLC now owns 2,917 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 573 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of NNN REIT by 7.7% in the second quarter. Versant Capital Management Inc now owns 12,958 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 923 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of NNN REIT by 23.3% in the first quarter. Parallel Advisors LLC now owns 8,276 shares of the real estate investment trust’s stock valued at $348,000 after acquiring an additional 1,566 shares in the last quarter. Finally, Orographic Financial Advisors LLC acquired a new stake in shares of NNN REIT during the first quarter valued at $1,255,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Company Profile

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.