NNN REIT, Inc. $NNN Holdings Boosted by CoreCap Advisors LLC

Key Points

• CoreCap Advisors significantly increased its NNN REIT stake during the third quarter, purchasing 149,867 additional shares for a total holding of 149,868 shares valued at approximately $6.16 million. Institutional investors collectively own about 89.96% of the company.
• NNN REIT reported quarterly EPS of $0.52, narrowly exceeding estimates, while revenue reached $244.27 million. The company raised its quarterly dividend from $0.60 to $0.62 per share, representing a 6.2% annualized yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $47.38, compared with a recent share price of $40.23.

CoreCap Advisors LLC raised its position in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) by 14,986,700.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,868 shares of the real estate investment trust's stock after purchasing an additional 149,867 shares during the quarter. CoreCap Advisors LLC owned 0.08% of NNN REIT worth $6,158,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Elevation Wealth Partners LLC grew its stake in NNN REIT by 107.9% during the 3rd quarter. Elevation Wealth Partners LLC now owns 2,266 shares of the real estate investment trust's stock valued at $93,000 after acquiring an additional 1,176 shares in the last quarter. Horizons Wealth Management purchased a new stake in shares of NNN REIT in the third quarter worth approximately $40,000. Versant Capital Management Inc lifted its position in shares of NNN REIT by 27.2% in the third quarter. Versant Capital Management Inc now owns 16,478 shares of the real estate investment trust's stock worth $677,000 after purchasing an additional 3,520 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of NNN REIT during the second quarter worth approximately $523,000. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of NNN REIT by 75.4% during the second quarter. Integrated Wealth Concepts LLC now owns 23,414 shares of the real estate investment trust's stock worth $1,089,000 after purchasing an additional 10,066 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

NNN REIT Trading Up 1.0%

Shares of NNN stock opened at $40.23 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 market cap of $7.72 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 6.42 and a beta of 0.78. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.12. The business's 50 day moving average is $44.06 and its two-hundred day moving average is $44.85.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $244.27 million during the quarter, compared to the consensus estimate 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. Equities analysts predict that NNN REIT, Inc. will post 3.51 EPS for the current 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 given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.48 annualized dividend and a dividend yield of 6.2%. This is a boost from NNN REIT's previous quarterly dividend of $0.60. NNN REIT's payout ratio is presently 121.57%.

Wall Street Analyst Weigh In

NNN has been the topic of a number of research reports. Wall Street Zen raised shares of NNN REIT from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Royal Bank Of Canada boosted 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. Weiss Ratings lowered NNN REIT from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, September 14th. B. Riley Financial reaffirmed a "neutral" rating and set a $47.50 price target (up from $46.00) on shares of NNN REIT in a research note on Wednesday, August 12th. Finally, Huntington began coverage on NNN REIT in a report on Wednesday, July 15th. They set an "outperform" rating and a $51.00 price target for the company. Four 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 MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $47.38.

NNN REIT Company Profile

NNN REIT, Inc is a real estate investment trust that owns and manages a diversified portfolio of freestanding retail properties. The company primarily leases these properties to tenants under long-term, triple-net lease agreements, which generally require tenants to pay property taxes, insurance and maintenance expenses in addition to rent.

Its properties serve businesses in industries such as convenience stores, automotive services, restaurants, retail, pharmacies and other essential-service categories.

Want to see what other hedge funds are holding NNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NNN REIT, Inc. (NYSE:NNN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.