Adams Asset Advisors LLC Purchases 22,155 Shares of NNN REIT, Inc. $NNN

Key Points

• Adams Asset Advisors LLC increased its stake in NNN REIT by 119% during Q2, acquiring an additional 22,155 shares, bringing their total to 40,766 shares valued at approximately $1.76 million.
• Analysts have varied opinions on NNN REIT, with one Buy rating, ten Hold ratings, and two Sell ratings, and a consensus target price of $44.17.
• NNN REIT recently increased its quarterly dividend to $0.60, up from $0.58, reflecting a dividend yield of 5.6% and highlighting a payout ratio of 114.29%.

Adams Asset Advisors LLC grew its position in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) by 119.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,766 shares of the real estate investment trust's stock after acquiring an additional 22,155 shares during the period. Adams Asset Advisors LLC's holdings in NNN REIT were worth $1,760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Red Spruce Capital LLC increased its position in shares of NNN REIT by 0.7% during the second quarter. Red Spruce Capital LLC now owns 48,252 shares of the real estate investment trust's stock valued at $2,084,000 after buying an additional 345 shares during the period. Strengthening Families & Communities LLC increased its position in shares of NNN REIT by 19.5% during the first quarter. Strengthening Families & Communities LLC now owns 2,283 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 372 shares during the period. Brooklyn Investment Group increased its position in shares of NNN REIT by 140.8% during the first quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 469 shares during the period. Farther Finance Advisors LLC increased its position in shares of NNN REIT by 25.6% during the first quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust's stock valued at $114,000 after buying an additional 546 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of NNN REIT by 10.6% during the first quarter. Parallel Advisors LLC now owns 6,566 shares of the real estate investment trust's stock valued at $280,000 after buying an additional 628 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

NNN has been the topic of several research analyst reports. Wells Fargo & Company reduced their price target on shares of NNN REIT from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Evercore ISI upped their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Barclays cut shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, July 22nd. Finally, UBS Group upped their price objective on shares of NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, NNN REIT presently has a consensus rating of "Reduce" and an average target price of $44.17.

NNN REIT Trading Down 0.5%

Shares of NYSE NNN opened at $43.07 on Monday. The firm's 50 day moving average price is $42.45 and its 200-day moving average price is $41.98. The company has a market cap of $8.13 billion, a PE ratio of 20.51, a P/E/G ratio of 3.91 and a beta of 0.95. NNN REIT, Inc. has a 52-week low of $35.80 and a 52-week high of $49.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

NNN REIT (NYSE:NNN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. The firm had revenue of $226.80 million for the quarter, compared to the consensus estimate of $224.26 million. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. On average, equities research analysts expect that NNN REIT, Inc. will post 3.33 EPS for the current fiscal year.

NNN REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a $0.60 dividend. This is a boost from NNN REIT's previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Thursday, July 31st. NNN REIT's payout ratio is currently 114.29%.

NNN REIT Company 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.

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