NNN REIT (NYSE:NNN) Given “Equal Weight” Rating at Wells Fargo & Company

NNN REIT (NYSE:NNN)‘s stock had its “equal weight” rating reissued by equities research analysts at Wells Fargo & Company in a research report issued on Tuesday, Benzinga reports. They currently have a $50.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $47.00. Wells Fargo & Company‘s price objective indicates a potential upside of 2.77% from the stock’s previous close.

NNN has been the subject of several other research reports. UBS Group lifted their target price on shares of NNN REIT from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. B. Riley lifted their target price on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on shares of NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of NNN REIT from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Raymond James lifted their target price on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.83.

NNN REIT Trading Up 0.3 %

Shares of NYSE NNN traded up $0.16 during midday trading on Tuesday, reaching $48.65. 430,544 shares of the stock were exchanged, compared to its average volume of 1,169,707. The company has a 50 day simple moving average of $46.94 and a 200 day simple moving average of $43.79. The stock has a market capitalization of $8.92 billion, a P/E ratio of 22.38, a PEG ratio of 3.84 and a beta of 1.09. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.72 and a current ratio of 1.72. NNN REIT has a twelve month low of $34.38 and a twelve month high of $49.10.

NNN REIT (NYSE:NNN) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). The firm had revenue of $216.81 million for the quarter, compared to analyst estimates of $212.30 million. NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 EPS. As a group, equities analysts expect that NNN REIT will post 3.3 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the completion of the transaction, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at approximately $3,270,161.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NNN. LRI Investments LLC acquired a new position in shares of NNN REIT during the 1st quarter worth about $34,000. Riverview Trust Co acquired a new position in shares of NNN REIT during the 1st quarter worth about $43,000. Bruce G. Allen Investments LLC boosted its position in shares of NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,047 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of NNN REIT during the 2nd quarter worth about $59,000. Finally, GAMMA Investing LLC grew its stake in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 1,123 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.