Bank of New York Mellon Corp Invests $85.43 Million in NNN REIT, Inc. $NNN

Key Points

• Bank of New York Mellon purchased 1.84 million shares of NNN REIT valued at approximately $85.43 million, giving it a 0.97% stake. Institutional investors collectively own nearly 90% of the company.
• Analysts remain cautious, with NNN REIT carrying a consensus “Hold” rating and an average price target of $47.60. Shares recently opened at $46.13, within a 52-week range of $38.90 to $50.00.
• NNN REIT exceeded quarterly earnings and revenue expectations, reporting EPS of $0.52 and revenue of $244.27 million. The company also raised its quarterly dividend from $0.60 to $0.62, implying a 5.4% annualized yield.

Bank of New York Mellon Corp purchased a new stake in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,836,020 shares of the real estate investment trust's stock, valued at approximately $85,430,000. Bank of New York Mellon Corp owned about 0.97% of NNN REIT as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC bought a new position in NNN REIT in the 2nd quarter valued at approximately $27,000. Avalon Trust Co bought a new stake in shares of NNN REIT in the 2nd quarter worth $38,000. Root Financial Partners LLC increased its holdings in shares of NNN REIT by 3,354.1% in the 1st quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 1,241 shares in the last quarter. Ascentis Independent Advisors purchased a new position in shares of NNN REIT in the first quarter worth $76,000. Finally, GAMMA Investing LLC raised its stake in shares of NNN REIT by 24.4% in the second quarter. GAMMA Investing LLC now owns 2,917 shares of the real estate investment trust's stock worth $136,000 after purchasing an additional 573 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NNN shares. Morgan Stanley cut NNN REIT from an "overweight" rating to an "equal weight" rating and set a $50.00 price objective on the stock. in a research report on Monday, July 20th. Citigroup boosted their target price on NNN REIT from $42.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Royal Bank Of Canada upped their target price on shares of NNN REIT from $44.00 to $47.00 and gave the company a "sector perform" rating in a research note on Thursday, August 6th. National Bank Financial set a $50.00 price target on shares of NNN REIT in a report on Monday, July 20th. Finally, Wells Fargo & Company lifted their price target on shares of NNN REIT from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, NNN REIT presently has an average rating of "Hold" and a consensus price target of $47.60.

NNN REIT Price Performance

NYSE NNN opened at $46.13 on Wednesday. The business's fifty day moving average is $47.06 and its 200 day moving average is $45.23. NNN REIT, Inc. has a fifty-two week low of $38.90 and a fifty-two week high of $50.00. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $8.85 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 7.49 and a beta of 0.79.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The company had revenue of $244.27 million during the quarter, compared to the consensus estimate of $240.19 million. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%.NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. Sell-side analysts predict that NNN REIT, Inc. will post 3.5 earnings per share for the current year.

NNN REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.62 dividend. The ex-dividend date was Friday, July 31st. 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 dividend yield of 5.4%. NNN REIT's dividend payout ratio (DPR) is currently 121.57%.

NNN REIT Company Profile

NNN REIT NYSE: NNN, formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.

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