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

A number of other institutional investors and hedge funds also recently bought and sold shares of NNN. Putney Financial Group LLC acquired a new position in NNN REIT in the fourth quarter worth $38,000. Versant Capital Management Inc raised its position in shares of NNN REIT by 151.9% during the first quarter. Versant Capital Management Inc now owns 4,255 shares of the real estate investment trust's stock worth $181,000 after acquiring an additional 2,566 shares during the last quarter. GAMMA Investing LLC raised its position in shares of NNN REIT by 3,301.7% during the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock worth $4,186,000 after acquiring an additional 95,253 shares during the last quarter. Parallel Advisors LLC lifted its position in NNN REIT by 10.6% during the 1st quarter. Parallel Advisors LLC now owns 6,566 shares of the real estate investment trust's stock valued at $280,000 after purchasing an additional 628 shares during the period. Finally, Red Spruce Capital LLC lifted its position in NNN REIT by 10.3% during the 1st quarter. Red Spruce Capital LLC now owns 47,907 shares of the real estate investment trust's stock valued at $2,043,000 after purchasing an additional 4,464 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Analysts Set New Price Targets

NNN has been the topic of several analyst reports. Wells Fargo & Company cut their target price on NNN REIT from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Barclays downgraded NNN REIT from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, July 22nd. UBS Group increased their price objective on NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Finally, Evercore ISI increased their price objective on NNN REIT from $44.00 to $46.00 and gave the stock an "in-line" rating in a report on Monday. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $44.33.

NNN REIT Stock Performance

Shares of NYSE NNN traded down $0.16 during midday trading on Friday, hitting $42.13. 456,391 shares of the company's stock were exchanged, compared to its average volume of 1,280,293. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. NNN REIT, Inc. has a 12 month low of $35.80 and a 12 month high of $49.57. The company's 50 day moving average price is $42.41 and its 200 day moving average price is $41.99. The firm has a market capitalization of $7.95 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 3.87 and a beta of 0.95.

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

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, July 31st. This represents a $2.40 annualized dividend and a dividend yield of 5.7%. This is an increase from NNN REIT's previous quarterly dividend of $0.58. NNN REIT's dividend payout ratio is presently 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.