Equity Investment Corp Acquires Shares of 1,667,015 NNN REIT, Inc. $NNN

Key Points

• Equity Investment Corp acquired 1,667,015 shares of NNN REIT during the second quarter, valued at approximately $77.6 million and representing 0.87% of the company. Institutional investors collectively own 89.96% of NNN REIT.
• Analysts maintain a consensus “Hold” rating with an average price target of $47.60, compared with shares opening at $45.89. Recent targets range from $47.50 to $50.00.
• NNN REIT exceeded quarterly earnings and revenue expectations, reporting $0.52 in EPS and $244.27 million in revenue. The company raised its quarterly dividend to $0.62, equivalent to an annualized $2.48 payout and a 5.4% yield.

Equity Investment Corp bought a new stake in NNN REIT, Inc. (NYSE:NNN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,667,015 shares of the real estate investment trust's stock, valued at approximately $77,566,000. Equity Investment Corp owned 0.87% of NNN REIT as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Clearstead Trust LLC acquired a new position in NNN REIT in the second quarter valued at approximately $27,000. Avalon Trust Co acquired a new stake in NNN REIT during the second quarter worth $38,000. Root Financial Partners LLC raised its position in NNN REIT by 3,354.1% in the first quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 1,241 shares during the period. Ascentis Independent Advisors acquired a new position in shares of NNN REIT in the 1st quarter valued at $76,000. Finally, Global Retirement Partners LLC acquired a new position in shares of NNN REIT in the 2nd quarter valued at $89,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Robert W. Baird set a $49.00 target price on NNN REIT in a report on Thursday, August 6th. B. Riley Financial restated a "neutral" rating and issued a $47.50 target price (up from $46.00) on shares of NNN REIT in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of NNN REIT from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 4th. National Bank Financial set a $50.00 price target on shares of NNN REIT in a report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of NNN REIT from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Three 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $47.60.

NNN REIT Price Performance

Shares of NNN opened at $45.89 on Wednesday. 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 firm has a market cap of $8.81 billion, a PE ratio of 22.50, a PEG ratio of 7.47 and a beta of 0.79. The firm's 50 day moving average price is $47.07 and its 200 day moving average price is $45.08. NNN REIT, Inc. has a twelve month low of $38.90 and a twelve month high of $50.00.

NNN REIT (NYSE:NNN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $244.27 million during the quarter, compared to analyst estimates 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. As a group, research analysts expect that NNN REIT, Inc. will post 3.49 EPS for the current fiscal year.

NNN REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, July 31st. This is a boost from NNN REIT's previous quarterly dividend of $0.60. NNN REIT's payout ratio 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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