Robert W. Baird Forecasts Strong Price Appreciation for NNN REIT (NYSE:NNN) Stock

NNN REIT (NYSE:NNN) had its price target lifted by Robert W. Baird from $44.00 to $45.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s target price would suggest a potential upside of 3.69% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Raymond James increased their target price on NNN REIT from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reduced their target price on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday. UBS Group lifted their price target on NNN REIT from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Finally, B. Riley lifted their target price on NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.86.

NNN REIT Stock Performance

NNN REIT stock opened at $43.40 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. NNN REIT has a 12 month low of $37.69 and a 12 month high of $49.57. The company has a fifty day moving average price of $47.71 and a two-hundred day moving average price of $44.75. The company has a market cap of $7.97 billion, a PE ratio of 20.09, a P/E/G ratio of 3.46 and a beta of 1.10.

NNN REIT (NYSE:NNN) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a net margin of 45.63% and a return on equity of 9.47%. The business had revenue of $216.81 million for the quarter, compared to the consensus estimate of $212.30 million. During the same period in the prior year, the company earned $0.80 EPS. NNN REIT’s quarterly revenue was up 7.0% on a year-over-year basis. Research analysts expect that NNN REIT will post 3.3 earnings per share for the current year.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the transaction, the executive vice president now owns 69,756 shares of the company’s stock, valued at approximately $3,270,161.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nicholas Hoffman & Company LLC. grew its position in NNN REIT by 1.8% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust’s stock worth $568,000 after purchasing an additional 240 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in NNN REIT by 14.1% in 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 in the last quarter. GAMMA Investing LLC boosted its position in NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 553 shares during the period. LRI Investments LLC purchased a new position in NNN REIT during the 1st quarter valued at about $34,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of NNN REIT by 1,276.8% in 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 purchasing an additional 1,047 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

About NNN REIT

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.