Evercore ISI Has Lowered Expectations for NNN REIT (NYSE:NNN) Stock Price

NNN REIT (NYSE:NNN) had its price target reduced by research analysts at Evercore ISI from $46.00 to $44.00 in a research note issued on Wednesday, MarketBeat reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential upside of 11.08% from the company’s previous close.

A number of other analysts also recently issued reports on NNN. UBS Group raised their price objective on NNN REIT from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. B. Riley lifted their price target on shares of NNN REIT from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. Barclays reduced their price target on shares of NNN REIT from $44.00 to $43.00 and set an “underweight” rating on the stock in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NNN REIT in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their target price on NNN REIT from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.10.

NNN REIT Stock Down 0.6%

NNN stock opened at $39.61 on Wednesday. NNN REIT has a one year low of $35.80 and a one year high of $44.81. The firm has a market cap of $7.48 billion, a PE ratio of 18.86, a PEG ratio of 3.91 and a beta of 0.94. The firm’s 50 day moving average price is $42.15 and its 200-day moving average price is $42.13. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

NNN REIT (NYSE:NNN) last posted its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. NNN REIT had a return on equity of 9.00% and a net margin of 43.90%.The company had revenue of $230.16 million during the quarter, compared to analysts’ expectations of $228.45 million. NNN REIT has set its FY 2025 guidance at 3.360-3.400 EPS. On average, equities research analysts anticipate that NNN REIT will post 3.33 EPS for the current year.

Institutional Trading of NNN REIT

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in NNN REIT by 616.2% in the third quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock valued at $3,082,000 after purchasing an additional 62,299 shares during the period. Sound Income Strategies LLC raised its position in NNN REIT by 8.2% in the 2nd quarter. Sound Income Strategies LLC now owns 416,058 shares of the real estate investment trust’s stock valued at $17,965,000 after purchasing an additional 31,505 shares in the last quarter. Adams Asset Advisors LLC boosted its stake in shares of NNN REIT by 119.0% in the 2nd quarter. Adams Asset Advisors LLC now owns 40,766 shares of the real estate investment trust’s stock valued at $1,760,000 after buying an additional 22,155 shares during the period. Knights of Columbus Asset Advisors LLC acquired a new position in shares of NNN REIT during the third quarter worth about $879,000. Finally, Allstate Corp increased its stake in shares of NNN REIT by 159.5% during the first quarter. Allstate Corp now owns 25,510 shares of the real estate investment trust’s stock worth $1,088,000 after buying an additional 15,678 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Company Profile

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years.