Adams Asset Advisors LLC Purchases 6,130 Shares of NNN REIT, Inc. (NYSE:NNN)

Adams Asset Advisors LLC increased its position in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) by 49.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,611 shares of the real estate investment trust's stock after purchasing an additional 6,130 shares during the quarter. Adams Asset Advisors LLC's holdings in NNN REIT were worth $794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC grew its holdings in NNN REIT by 11.4% in the first quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust's stock valued at $16,401,000 after purchasing an additional 39,289 shares during the period. Goodman Financial Corp raised its position in NNN REIT by 3.1% in the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust's stock valued at $12,219,000 after purchasing an additional 9,054 shares during the period. GAMMA Investing LLC increased its holdings in NNN REIT by 3,301.7% in the 1st quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock valued at $4,186,000 after purchasing an additional 95,253 shares during the last quarter. Amalgamated Bank raised its holdings in shares of NNN REIT by 1.7% in the 4th quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust's stock valued at $3,634,000 after buying an additional 1,521 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of NNN REIT by 6.5% during the fourth quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust's stock worth $2,271,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

NNN REIT Stock Down 0.5%

NYSE:NNN traded down $0.22 during trading hours on Friday, reaching $42.48. The company's stock had a trading volume of 1,395,781 shares, compared to its average volume of 1,190,356. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 3.97 and a beta of 0.92. NNN REIT, Inc. has a one year low of $35.80 and a one year high of $49.57. The business's 50-day moving average is $41.61 and its 200-day moving average is $41.07. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.58 and a quick ratio of 0.58.

NNN REIT (NYSE:NNN - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $230.85 million during the quarter, compared to analysts' expectations of $219.68 million. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. Equities research analysts predict that NNN REIT, Inc. will post 3.33 EPS for the current year.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a dividend of $0.58 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.32 annualized dividend and a yield of 5.46%. NNN REIT's payout ratio is presently 108.41%.

Analysts Set New Price Targets

Several research analysts recently commented on NNN shares. UBS Group lowered their target price on NNN REIT from $44.00 to $43.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Barclays decreased their target price on NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company upped their price objective on NNN REIT from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $44.46.

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.