Robert W. Baird Issues Positive Forecast for NNN REIT (NYSE:NNN) Stock Price

NNN REIT (NYSE:NNN - Get Free Report) had its target price lifted by research analysts at Robert W. Baird from $44.00 to $45.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Robert W. Baird's target price indicates a potential upside of 3.85% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada decreased their price objective on shares of NNN REIT from $48.00 to $45.00 and set a "sector perform" rating for the company in a report on Friday. Wells Fargo & Company reissued an "equal weight" rating and set a $50.00 target price (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. StockNews.com cut shares of NNN REIT from a "buy" rating to a "hold" rating in a report on Monday, October 28th. UBS Group increased their price objective on shares of NNN REIT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Finally, B. Riley upped their target price on shares of NNN REIT from $42.50 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, NNN REIT has a consensus rating of "Hold" and a consensus target price of $47.14.

NNN REIT Price Performance

NNN traded down $0.07 during trading on Monday, hitting $43.33. The company's stock had a trading volume of 2,211,574 shares, compared to its average volume of 1,159,620. NNN REIT has a 12 month low of $37.69 and a 12 month high of $49.57. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The firm's 50 day moving average price is $47.71 and its two-hundred day moving average price is $44.78.

NNN REIT (NYSE:NNN - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 45.63% and a return on equity of 9.47%. The company's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. Sell-side analysts forecast that NNN REIT will post 3.3 earnings per share for the current fiscal year.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 4,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 69,756 shares in the company, valued at $3,270,161.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NNN REIT

Institutional investors have recently modified their holdings of the business. LRI Investments LLC acquired a new stake in NNN REIT in the 1st quarter worth about $34,000. Bruce G. Allen Investments LLC grew its position in NNN REIT by 1,276.8% during the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,047 shares in the last quarter. Versant Capital Management Inc bought a new position in NNN REIT during the 2nd quarter worth $59,000. Farther Finance Advisors LLC increased its stake in NNN REIT by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust's stock worth $110,000 after acquiring an additional 280 shares during the period. Finally, GAMMA Investing LLC raised its holdings in NNN REIT by 93.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust's stock valued at $99,000 after acquiring an additional 1,123 shares in the last quarter. 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.