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

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

A number of other institutional investors and hedge funds also recently modified their holdings of NNN. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 11.4% in the 1st 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 boosted its holdings in shares of 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 worth $12,219,000 after buying an additional 9,054 shares during the period. GAMMA Investing LLC boosted its holdings in shares of NNN REIT by 3,301.7% in the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock worth $4,186,000 after buying an additional 95,253 shares during the period. Amalgamated Bank increased its position in shares of NNN REIT by 1.7% in the fourth quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust's stock worth $3,634,000 after acquiring an additional 1,521 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings 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 valued at $2,271,000 after acquiring an additional 3,400 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

NNN REIT Stock Up 0.6%

NYSE:NNN traded up $0.27 during mid-day trading on Thursday, reaching $42.67. The stock had a trading volume of 761,129 shares, compared to its average volume of 1,190,022. The stock has a market cap of $8.02 billion, a P/E ratio of 19.94, a PEG ratio of 3.96 and a beta of 0.92. The business's 50 day moving average is $41.48 and its 200 day moving average is $41.10. 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, Inc. has a fifty-two week low of $35.80 and a fifty-two week high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The company had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. During the same quarter in the prior year, the business posted $0.84 EPS. NNN REIT's quarterly revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that NNN REIT, Inc. will post 3.33 earnings per share for the current year.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a $0.58 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.44%. NNN REIT's dividend payout ratio is currently 108.41%.

Analyst Ratings Changes

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

NNN REIT Profile

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.