Bank of America Corp DE Purchases New Shares in NNN REIT, Inc. $NNN

Key Points

• Bank of America acquired 1.89 million shares of NNN REIT during the second quarter, valued at approximately $87.7 million and representing a 0.98% stake. Institutional investors collectively own nearly 90% of the company.
• NNN REIT exceeded quarterly expectations, reporting $0.52 in earnings per share on $244.27 million in revenue, while maintaining fiscal 2026 guidance of $3.50–$3.54 EPS.
• The REIT raised its quarterly dividend from $0.60 to $0.62 per share, equivalent to a 6.0% annualized yield; analysts’ consensus rating remains “Hold,” with an average price target of $47.60.

Bank of America Corp DE purchased a new position in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,885,611 shares of the real estate investment trust's stock, valued at approximately $87,737,000. Bank of America Corp DE owned 0.98% of NNN REIT at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in NNN REIT during the second quarter worth $1,242,752,000. Bank of New York Mellon Corp acquired a new position in NNN REIT in the 2nd quarter valued at $85,430,000. Equity Investment Corp purchased a new stake in shares of NNN REIT in the second quarter valued at $77,566,000. Legal & General Group Plc acquired a new stake in NNN REIT in the 2nd quarter worth about $45,077,000. Finally, Hsbc Holdings PLC purchased a new position in shares of NNN REIT during the 2nd quarter worth about $32,228,000. Institutional investors and hedge funds own 89.96% of the company's stock.

NNN REIT Price Performance

NYSE NNN opened at $41.53 on Friday. NNN REIT, Inc. has a 12 month low of $38.90 and a 12 month high of $50.00. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.15 and a quick ratio of 1.15. The company's 50 day simple moving average is $46.23 and its 200 day simple moving average is $45.24. The firm has a market capitalization of $7.97 billion, a PE ratio of 20.36, a P/E/G ratio of 6.72 and a beta of 0.79.

NNN REIT (NYSE:NNN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The firm had revenue of $244.27 million during the quarter, compared to analysts' expectations of $240.19 million. NNN REIT had a net margin of 40.35% and a return on equity of 8.70%. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. As a group, equities research analysts forecast that NNN REIT, Inc. will post 3.51 EPS for the current fiscal year.

NNN REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.62 dividend. This is an increase from NNN REIT's previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Friday, July 31st. NNN REIT's dividend payout ratio is currently 121.57%.

Analyst Ratings Changes

NNN has been the subject of several research analyst reports. National Bank Financial set a $50.00 price target on NNN REIT in a research note on Monday, July 20th. Wall Street Zen raised shares of NNN REIT from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Weiss Ratings cut NNN REIT from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. Royal Bank Of Canada increased their target price on NNN REIT from $44.00 to $47.00 and gave the company a "sector perform" rating in a research note on Thursday, August 6th. Finally, Evercore set a $48.00 price target on NNN REIT in a report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $47.60.

NNN REIT Profile

NNN REIT NYSE: NNN is a real estate investment trust that owns and manages a diversified portfolio of retail properties across the United States. The company primarily invests in freestanding properties that are leased to tenants under long-term, triple-net agreements, which generally require tenants to pay property taxes, insurance and maintenance costs in addition to rent.

NNN REIT's properties serve a range of retail and service-oriented businesses, including convenience stores, restaurants, automotive service locations, auto parts retailers and other necessity-based retailers.

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