NNN REIT (NYSE:NNN) Upgraded at Morgan Stanley

NNN REIT (NYSE:NNN) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, September 21st, MarketBeat.com reports. The firm presently has a $50.00 target price on the real estate investment trust’s stock. Morgan Stanley’s price objective suggests a potential upside of 20.97% from the stock’s current price.

Several other brokerages also recently commented on NNN. Robert W. Baird set a $49.00 target price on NNN REIT in a research note on Thursday, August 6th. Jefferies Financial Group initiated coverage on NNN REIT in a research note on Monday, June 1st. They set a “hold” rating and a $47.00 target price on the stock. Wall Street Zen upgraded NNN REIT from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. National Bank Financial set a $50.00 target price on NNN REIT in a research note on Monday, July 20th. Finally, Huntington initiated coverage on NNN REIT in a research note on Wednesday, July 15th. They set an “outperform” rating and a $51.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.53.

NNN REIT Stock Up 0.1%

Shares of NNN REIT stock traded up $0.03 during midday trading on Monday, hitting $41.33. The company had a trading volume of 3,583,068 shares, compared to its average volume of 1,811,198. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $7.93 billion, a P/E ratio of 20.26, a P/E/G ratio of 6.66 and a beta of 0.79. The company has a 50 day moving average of $45.55 and a 200 day moving average of $45.10. NNN REIT has a 52-week low of $38.90 and a 52-week high of $50.00.

NNN REIT (NYSE:NNN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%.The business had revenue of $244.27 million for the quarter, compared to the consensus estimate of $240.19 million. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. On average, equities analysts predict that NNN REIT will post 3.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of NNN REIT during the 2nd quarter valued at $1,242,752,000. Bank of America Corp DE bought a new position in shares of NNN REIT during the 2nd quarter valued at $87,737,000. Bank of New York Mellon Corp bought a new position in shares of NNN REIT during the 2nd quarter valued at $85,430,000. Equity Investment Corp bought a new position in NNN REIT in the 2nd quarter worth $77,566,000. Finally, Jefferies Financial Group Inc. bought a new position in NNN REIT in the 2nd quarter worth $66,584,000. 89.96% of the stock is owned by institutional investors.

NNN REIT Company Profile

NNN REIT (NYSE: NNN) is a real estate investment trust that owns and manages a diversified portfolio of retail properties across the United States. The company primarily invests in freestanding properties that are leased to tenants under long-term, triple-net agreements, which generally require tenants to pay property taxes, insurance and maintenance costs in addition to rent.

NNN REIT’s properties serve a range of retail and service-oriented businesses, including convenience stores, restaurants, automotive service locations, auto parts retailers and other necessity-based retailers.