Huntington Initiates Coverage on NNN REIT (NYSE:NNN)

Equities research analysts at Huntington assumed coverage on shares of NNN REIT (NYSE:NNN) in a research note issued on Wednesday. The brokerage set an “outperform” rating and a $51.00 price target on the real estate investment trust’s stock. Huntington’s price objective would indicate a potential upside of 7.68% from the stock’s current price.

NNN has been the subject of several other research reports. Barclays increased their target price on shares of NNN REIT from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 21st. Citigroup upped their price objective on NNN REIT from $42.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Royal Bank Of Canada increased their price objective on NNN REIT from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Wall Street Zen raised NNN REIT from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Weiss Ratings upgraded NNN REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.32.

NNN REIT Stock Up 0.0%

NNN stock opened at $47.36 on Wednesday. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 7.30 and a beta of 0.80. The company has a fifty day moving average price of $45.53 and a 200 day moving average price of $43.93. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.63 and a quick ratio of 0.63. NNN REIT has a 12 month low of $38.90 and a 12 month high of $48.15.

NNN REIT (NYSE:NNN) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $240.42 million for the quarter, compared to analysts’ expectations of $237.75 million. NNN REIT had a return on equity of 8.81% and a net margin of 41.38%.The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. 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 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NNN. Captrust Financial Advisors boosted its holdings 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 valued at $4,977,000 after purchasing an additional 3,897 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of NNN REIT by 11.0% during 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 in the last quarter. Horizon Investments LLC lifted its holdings in shares of NNN REIT by 65.0% in the 3rd quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust’s stock valued at $3,230,000 after buying an additional 30,333 shares during the period. Red Spruce Capital LLC lifted its holdings in shares of NNN REIT by 3.0% in the 4th quarter. Red Spruce Capital LLC now owns 49,501 shares of the real estate investment trust’s stock valued at $1,962,000 after buying an additional 1,452 shares during the period. Finally, Adams Asset Advisors LLC boosted its stake in shares of NNN REIT by 10.2% in the fourth quarter. Adams Asset Advisors LLC now owns 47,524 shares of the real estate investment trust’s stock valued at $1,883,000 after buying an additional 4,412 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.