NNN REIT (NYSE:NNN) Given New $46.00 Price Target at Citigroup

NNN REIT (NYSE:NNN) had its price objective upped by Citigroup from $42.00 to $46.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

NNN has been the topic of a number of other reports. BNP Paribas Exane boosted their price target on shares of NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a research report on Thursday, February 12th. Royal Bank Of Canada boosted their price target on shares of NNN REIT from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Stifel Nicolaus set a $48.50 price target on shares of NNN REIT in a research report on Wednesday, February 11th. Barclays boosted their price target on shares of NNN REIT from $43.00 to $45.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NNN REIT in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.46.

NNN REIT Stock Down 0.4%

NNN stock opened at $44.55 on Thursday. The stock has a market capitalization of $8.48 billion, a P/E ratio of 21.63, a P/E/G ratio of 5.40 and a beta of 0.82. The firm has a 50-day simple moving average of $44.01 and a 200-day simple moving average of $42.29. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.10. NNN REIT has a 52 week low of $38.90 and a 52 week high of $46.03.

NNN REIT (NYSE:NNN) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $240.01 million for the quarter, compared to analysts’ expectations of $237.76 million. NNN REIT had a return on equity of 8.81% and a net margin of 41.38%.The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. NNN REIT has set its FY 2026 guidance at 3.480-3.540 EPS. Equities analysts forecast that NNN REIT will post 3.48 earnings per share for the current fiscal year.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 30th. This represents a $2.40 dividend on an annualized basis and a yield of 5.4%. NNN REIT’s payout ratio is presently 116.50%.

Insider Activity at NNN REIT

In other news, EVP Jonathan Adamo sold 6,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $44.99, for a total value of $269,940.00. Following the completion of the sale, the executive vice president owned 126,358 shares of the company’s stock, valued at $5,684,846.42. This represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the completion of the sale, the chief executive officer directly owned 822,711 shares of the company’s stock, valued at approximately $37,005,540.78. This trade represents a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of NNN REIT

Several hedge funds have recently made changes to their positions in NNN. Captrust Financial Advisors grew its stake in shares of NNN REIT by 3.5% in the 2nd quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust’s stock valued at $4,977,000 after buying an additional 3,897 shares during the period. SG Americas Securities LLC grew its stake in shares of NNN REIT by 616.2% in the 3rd quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock valued at $3,082,000 after buying an additional 62,299 shares during the period. Bayforest Capital Ltd grew its stake in shares of NNN REIT by 705.2% in the 3rd quarter. Bayforest Capital Ltd now owns 4,525 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 3,963 shares during the period. Quent Capital LLC purchased a new stake in shares of NNN REIT in the 3rd quarter valued at approximately $51,000. Finally, Versant Capital Management Inc grew its stake in shares of NNN REIT by 20.9% in the 3rd quarter. Versant Capital Management Inc now owns 9,833 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 1,699 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.