Morgan Stanley Upgrades NNN REIT (NYSE:NNN) to Overweight

NNN REIT (NYSE:NNN) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat reports. The brokerage presently has a $50.00 price target on the real estate investment trust’s stock. Morgan Stanley’s price target would suggest a potential upside of 21.46% from the company’s current price.

A number of other equities analysts have also recently issued reports on NNN. Huntington assumed coverage on shares of NNN REIT in a research report on Wednesday, July 15th. They set an “outperform” rating and a $51.00 target price for the company. B. Riley Financial restated a “neutral” rating and set a $47.50 target price (up from $46.00) on shares of NNN REIT in a research report on Wednesday, August 12th. Evercore set a $48.00 target price on shares of NNN REIT in a research report on Thursday, August 6th. National Bank Financial set a $50.00 price objective on shares of NNN REIT in a research report on Monday, July 20th. Finally, Weiss Ratings lowered shares of NNN REIT from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 14th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, NNN REIT has a consensus rating of “Hold” and an average target price of $47.53.

NNN REIT Price Performance

Shares of NYSE NNN traded down $0.17 during midday trading on Monday, hitting $41.17. The company had a trading volume of 1,771,443 shares, compared to its average volume of 1,621,485. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.12. NNN REIT has a twelve month low of $38.90 and a twelve month high of $50.00. The business has a 50-day simple moving average of $45.87 and a two-hundred day simple moving average of $45.16. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 6.72 and a beta of 0.79.

NNN REIT (NYSE:NNN) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $244.27 million during the quarter, compared to analysts’ expectations of $240.19 million. NNN REIT had a net margin of 40.35% and a return on equity of 8.70%. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. Equities research analysts anticipate that NNN REIT will post 3.51 earnings per share for the current year.

Hedge Funds Weigh In On NNN REIT

Institutional investors have recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in NNN REIT in the second quarter valued at approximately $19,961,000. Bank of New York Mellon Corp purchased a new stake in NNN REIT in the second quarter valued at approximately $85,430,000. Focus Partners Advisor Solutions LLC purchased a new stake in NNN REIT in the second quarter valued at approximately $1,165,000. The Manufacturers Life Insurance Company purchased a new stake in NNN REIT in the second quarter valued at approximately $7,719,000. Finally, Hsbc Holdings PLC grew its holdings in NNN REIT by 33.2% in the second quarter. Hsbc Holdings PLC now owns 689,173 shares of the real estate investment trust’s stock valued at $32,228,000 after purchasing an additional 171,669 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

About NNN REIT

NNN REIT (NYSE: NNN) is a real estate investment trust that owns and manages a diversified portfolio of retail properties across the United States. The company primarily invests in freestanding properties that are leased to tenants under long-term, triple-net agreements, which generally require tenants to pay property taxes, insurance and maintenance costs in addition to rent.

NNN REIT’s properties serve a range of retail and service-oriented businesses, including convenience stores, restaurants, automotive service locations, auto parts retailers and other necessity-based retailers.