BlackRock Inc. Buys Shares of 26,708,613 NNN REIT, Inc. $NNN

Key Points

• BlackRock acquired 26.7 million NNN REIT shares worth approximately $1.24 billion, giving it a 14.04% stake. Institutional investors collectively own nearly 90% of the company.
• NNN REIT reported quarterly EPS of $0.52, exceeding estimates by $0.01, while revenue of $244.27 million also topped expectations. The company raised its quarterly dividend to $0.62, implying a 5.4% annualized yield.
• Shares opened at $46.17, near analysts’ consensus price target of $47.60. Analyst sentiment remains broadly neutral, with an average “Hold” rating despite three Buy ratings.

BlackRock Inc. bought a new stake in NNN REIT, Inc. (NYSE:NNN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,708,613 shares of the real estate investment trust's stock, valued at approximately $1,242,752,000. BlackRock Inc. owned approximately 14.04% of NNN REIT at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC bought a new stake in NNN REIT during the second quarter worth $1,165,000. Orographic Financial Advisors LLC bought a new position in shares of NNN REIT in the 1st quarter valued at $1,255,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of NNN REIT in the 1st quarter valued at $2,165,000. Alberta Investment Management Corp acquired a new position in shares of NNN REIT during the 2nd quarter worth $5,784,000. Finally, SG Americas Securities LLC raised its holdings in shares of NNN REIT by 798.2% during the 1st quarter. SG Americas Securities LLC now owns 268,872 shares of the real estate investment trust's stock worth $11,301,000 after buying an additional 238,938 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

NNN REIT Stock Down 0.2%

Shares of NNN opened at $46.17 on Friday. NNN REIT, Inc. has a 52 week low of $38.90 and a 52 week high of $50.00. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 7.48 and a beta of 0.79. 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 stock has a fifty day moving average of $47.07 and a 200-day moving average of $45.14.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%.The business had revenue of $244.27 million during the quarter, compared to analysts' expectations of $240.19 million. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. As a group, sell-side analysts anticipate that NNN REIT, Inc. will post 3.5 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm 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 a boost from NNN REIT's previous quarterly dividend of $0.60. The ex-dividend date was Friday, July 31st. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. NNN REIT's dividend payout ratio (DPR) is 121.57%.

Analysts Set New Price Targets

Several research firms recently weighed in on NNN. Robert W. Baird set a $49.00 price objective on NNN REIT in a research note on Thursday, August 6th. Wells Fargo & Company boosted their target price on NNN REIT from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their target price on shares of NNN REIT from $44.00 to $47.00 and gave the stock a "sector perform" rating in a report on Thursday, August 6th. Huntington started coverage on shares of NNN REIT in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $51.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on shares of NNN REIT in a research note on Monday, June 1st. They issued a "hold" rating and a $47.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, nine have assigned 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 target price of $47.60.

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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