NNN REIT (NYSE:NNN) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of NNN REIT (NYSE:NNN) from an overweight rating to an equal weight rating in a research note released on Monday, Marketbeat Ratings reports. Morgan Stanley currently has $50.00 price objective on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada upped their price target on shares of NNN REIT from $43.00 to $44.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of NNN REIT from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Barclays increased their price objective on shares of NNN REIT from $43.00 to $45.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 21st. Jefferies Financial Group started coverage on NNN REIT in a report on Monday, June 1st. They issued a “hold” rating and a $47.00 target price for the company. Finally, Citigroup lifted their price target on shares of NNN REIT from $42.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, NNN REIT currently has an average rating of “Hold” and a consensus price target of $46.57.

NNN REIT Stock Performance

NNN REIT stock opened at $48.99 on Monday. The stock has a market cap of $9.32 billion, a PE ratio of 23.78, a P/E/G ratio of 7.56 and a beta of 0.80. 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 business’s 50-day moving average price is $46.06 and its two-hundred day moving average price is $44.32. NNN REIT has a 12-month low of $38.90 and a 12-month high of $50.00.

NNN REIT (NYSE:NNN) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $237.75 million. During the same period in the previous year, the company earned $0.87 EPS. NNN REIT’s revenue for the quarter was up 4.1% on a year-over-year basis. NNN REIT has set its FY 2026 guidance at 3.480-3.540 EPS. As a group, analysts expect that NNN REIT will post 3.49 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.48 annualized dividend and a dividend yield of 5.1%. This is a boost from NNN REIT’s previous quarterly dividend of $0.60. NNN REIT’s payout ratio is 116.50%.

Institutional Investors Weigh In On NNN REIT

Hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC raised its stake in shares of NNN REIT by 8.0% in the fourth quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock valued at $20,000,000 after buying an additional 34,852 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of NNN REIT in the first quarter worth about $2,165,000. SG Americas Securities LLC lifted its stake in NNN REIT by 798.2% in the 1st quarter. SG Americas Securities LLC now owns 268,872 shares of the real estate investment trust’s stock worth $11,301,000 after purchasing an additional 238,938 shares in the last quarter. Root Financial Partners LLC lifted its stake in 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 purchasing an additional 1,241 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in NNN REIT by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,999 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 251 shares during the period. Institutional investors 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.