NNN REIT (NYSE:NNN) Price Target Raised to $47.00

NNN REIT (NYSE:NNN) had its target price lifted by Royal Bank Of Canada from $44.00 to $47.00 in a report released on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the real estate investment trust’s stock.

Several other brokerages have also commented on NNN. National Bank Financial set a $50.00 price objective on shares of NNN REIT in a report on Monday, July 20th. Weiss Ratings upgraded NNN REIT from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. 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. Barclays raised their target price on NNN REIT from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company lifted their price target on NNN REIT from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, NNN REIT has a consensus rating of “Hold” and an average target price of $47.30.

NNN REIT Price Performance

Shares of NNN REIT stock opened at $46.86 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.15 and a debt-to-equity ratio of 1.12. The company has a market cap of $8.99 billion, a PE ratio of 22.97, a P/E/G ratio of 7.22 and a beta of 0.79. The business has a 50 day moving average of $46.87 and a 200 day moving average of $44.88. NNN REIT has a 52 week low of $38.90 and a 52 week high of $50.00.

NNN REIT (NYSE:NNN) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%.The company had revenue of $244.27 million during the quarter, compared to analyst estimates of $240.19 million. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. As a group, equities research analysts forecast that NNN REIT will post 3.49 earnings per share for the current year.

NNN REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from NNN REIT’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. NNN REIT’s dividend payout ratio is currently 120.39%.

Institutional Investors Weigh In On NNN REIT

Several large investors have recently bought and sold shares of the business. Clearstead Trust LLC purchased a new position in NNN REIT in the 2nd quarter worth about $27,000. Avalon Trust Co bought a new stake in shares of NNN REIT in the second quarter worth approximately $38,000. Root Financial Partners LLC grew its stake in shares of NNN REIT by 3,354.1% in the first quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 1,241 shares during the period. Ascentis Independent Advisors purchased a new position in shares of NNN REIT during the first quarter valued at approximately $76,000. Finally, Global Retirement Partners LLC purchased a new position in shares of NNN REIT during the second quarter valued at approximately $89,000. 89.96% of the stock is currently owned by institutional investors.

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.