5 stories mentioning NNNUpdated 22d ago
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NNN REIT (NNN) has an average rating of hold and mean price target of $45.63 according to analysts polled by FactSet.Price: $48.84, Change: $-0.75, Percent Change: -1.51%
Triple net REITs had a solid H1, with defensive characteristics of long term leases to a diversified set of tenants, strong balance sheets and attractive dividend yield providing a tailwind, Morgan Stanley said in a note Tuesday.The report said triple net REITs are now trading at a -27% AFFO multiple discount to the broader REIT industry, broadly in-line with the 5 year average."We continue to see value in proven operators with growth not as highly dependent on equity issuance," the note said.For NNN REIT (NNN), Q2 AFFO is expected to be in-line with consensus, with 2026 guide to be raised above consensus, the note said.Morgan Stanley raised its price target on FrontView REIT (FVR) to $21 from $18, expecting Q2 AFFO to be in-line with consensus and 2026 guide to be raised in-line with market expectations.It cut its price target on VICI Properties (VICI) to $31 from $38.Price: $20.53, Change: $-0.17, Percent Change: -0.82%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We leave our 12-month target price unchanged at $47, 13.1x our 2026 FFO estimate, a premium to the three-year average (12.7x) with NNN's recently acquired property performing well. We leave both our 2026 and 2027 FFO estimates unchanged at $3.58 and $3.77, respectively. We continue to hear comments from management that state increasing competition is causing 15-25 bps in cap rate compression, which is a long-term headwind, in our view. NNN's acquisition pipeline is still strong, but we are unsure if Q1's $145 million at 7.5% is sustainable and believe going-in cap rates are likely to decline this year. Management noted that sale-leaseback transactions are growing as businesses seek alternative financing and balance sheet management, which provide a strong pipeline of NNN's relationship-based deals to execute. We believe tenant credit risks are shrinking vs. 2024 and 2025 as management has worked to actively target more resilient tenants less likely to be displaced by e-commerce growth in recent years.
NNN REIT (NNN) has an average rating of hold and mean price target of $45.63 according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $43.62, Change: $-0.18, Percent Change: -0.41%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:NNN reported Q1 revenue of $240M (+4.1% Y/Y), beating consensus by $2M, driven by a robust 6.9% increase in annual base rent (ABR) compared to $231M a year ago. Occupancy improved to 98.6%, up 90 bps Y/Y and 30 bps Q/Q, reflecting strong operational execution and tenant retention across the portfolio. Management's strategic focus on long-term tenant quality over near-term occupancy improvement continues to support portfolio stability, with weighted average remaining lease term extending to 10.1 years at Q1-end. We expect revenue growth to moderate to 3.5%-5.5% in FY 26 given the favorable lease expiration schedule with only 3.0% of leases expiring in 2026 compared to 6.7% in 2027. Automotive service and auto dealerships demonstrated the strongest ABR growth Y/Y within NNN's diversified portfolio, while full service restaurants and theaters experienced the most significant declines, highlighting varying sector-specific performance trends across the tenant base.
