NNN REIT (NYSE:NNN) Given New $49.00 Price Target at Wells Fargo & Company

NNN REIT (NYSE:NNN) had its price target upped by Wells Fargo & Company from $45.00 to $49.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 3.46% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada raised their price objective on NNN REIT from $43.00 to $44.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Morgan Stanley upped their target price on NNN REIT from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Citigroup increased their target price on NNN REIT from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Raymond James Financial reissued a “market perform” rating on shares of NNN REIT in a research note on Tuesday, March 17th. Finally, Barclays lifted their price target on NNN REIT from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.96.

NNN REIT Stock Performance

Shares of NNN opened at $47.36 on Wednesday. NNN REIT has a 1 year low of $38.90 and a 1 year high of $48.15. The company’s 50 day simple moving average is $45.53 and its 200 day simple moving average is $43.93. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 7.30 and a beta of 0.80. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.63.

NNN REIT (NYSE:NNN) last released its earnings results 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). The firm had revenue of $240.42 million during 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 firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. NNN REIT has set its FY 2026 guidance at 3.480-3.540 EPS. On average, sell-side analysts predict that NNN REIT will post 3.49 EPS for the current year.

Institutional Trading of NNN REIT

A number of institutional investors and hedge funds have recently made changes to their positions in NNN. Fifth Third Wealth Advisors LLC lifted its stake in shares of NNN REIT by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,999 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 251 shares in the last quarter. Parallel Advisors LLC increased its holdings in 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 purchasing an additional 567 shares during the last quarter. GAMMA Investing LLC increased its holdings in NNN REIT by 24.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,917 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 573 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of NNN REIT by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,544 shares of the real estate investment trust’s stock valued at $275,000 after purchasing an additional 658 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of NNN REIT by 1.0% in the 4th quarter. Handelsbanken Fonder AB now owns 67,800 shares of the real estate investment trust’s stock valued at $2,687,000 after purchasing an additional 700 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.