NNN REIT (NYSE:NNN) Stock Price Target Raised at Truist Financial

NNN REIT (NYSE:NNN) had its price objective hoisted by equities researchers at Truist Financial from $45.00 to $46.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial‘s target price indicates a potential upside of 10.81% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings lowered NNN REIT from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Evercore set a $47.00 price target on NNN REIT in a research report on Monday, September 21st. Wells Fargo & Company dropped their price target on NNN REIT from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a research note on Monday, September 21st. Finally, Citigroup decreased their price objective on NNN REIT from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, NNN REIT currently has a consensus rating of “Hold” and a consensus price target of $46.56.

NNN REIT Trading Down 0.4%

Shares of NYSE:NNN traded down $0.18 during trading on Tuesday, reaching $41.51. 233,350 shares of the company were exchanged, compared to its average volume of 1,797,877. The business’s fifty day simple moving average is $41.88 and its 200-day simple moving average is $44.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.58 and a quick ratio of 1.15. NNN REIT has a 12-month low of $38.90 and a 12-month high of $50.00. The firm has a market capitalization of $7.97 billion, a PE ratio of 19.78, a P/E/G ratio of 5.66 and a beta of 0.77.

NNN REIT (NYSE:NNN) last announced its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. NNN REIT had a return on equity of 8.93% and a net margin of 40.89%. The firm had revenue of $249.68 million during the quarter, compared to analyst estimates of $245.37 million. On average, research analysts anticipate that NNN REIT will post 3.52 EPS for the current year.

Hedge Funds Weigh In On NNN REIT

Large investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its stake in shares of NNN REIT by 155.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 550 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 335 shares during the last quarter. Clearstead Trust LLC purchased a new position in NNN REIT in the second quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in NNN REIT by 77.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 636 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 277 shares during the last quarter. Covestor Ltd raised its holdings in NNN REIT by 64.3% in the third quarter. Covestor Ltd now owns 800 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 313 shares in the last quarter. Finally, Avalon Trust Co bought a new position in NNN REIT in the second quarter worth about $38,000. Institutional investors own 89.96% of the company’s stock.

About NNN REIT

NNN REIT, Inc is a real estate investment trust that owns and manages freestanding retail properties across the United States. Its portfolio includes properties leased to businesses in a range of retail categories.

The company primarily uses long-term, single-tenant net leases. Under these arrangements, tenants generally pay property expenses such as taxes, insurance and maintenance in addition to rent.

Founded in 1984, the company was formerly known as National Retail Properties before adopting the NNN REIT name in 2023.