NNN REIT, Inc. $NNN Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group cut its NNN REIT stake by 54.6% in the third quarter, selling 780,941 shares; it still held 650,059 shares, valued at about $26.7 million.
• NNN REIT reported quarterly EPS of $0.57, beating the $0.52 analyst consensus, and revenue of $249.68 million, above estimates of $245.37 million.
• The company declared a quarterly dividend of $0.62 per share, equivalent to a 6.0% annualized yield. Analysts’ consensus rating was “Hold,” with a $46.56 average price target.

Jefferies Financial Group Inc. reduced its position in NNN REIT, Inc. (NYSE:NNN - Free Report) by 54.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 650,059 shares of the real estate investment trust's stock after selling 780,941 shares during the period. Jefferies Financial Group Inc. owned 0.34% of NNN REIT worth $26,711,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Peak Financial Advisors LLC boosted its position in NNN REIT by 2.2% during the third quarter. Peak Financial Advisors LLC now owns 11,948 shares of the real estate investment trust's stock worth $491,000 after purchasing an additional 254 shares during the period. Interchange Capital Partners LLC raised its position in shares of NNN REIT by 4.5% in the third quarter. Interchange Capital Partners LLC now owns 6,153 shares of the real estate investment trust's stock valued at $253,000 after purchasing an additional 263 shares during the period. Covestor Ltd raised its position in shares of NNN REIT by 64.3% in the third quarter. Covestor Ltd now owns 800 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 313 shares during the period. Parkside Financial Bank & Trust raised its position in shares of NNN REIT by 155.8% in the second quarter. Parkside Financial Bank & Trust now owns 550 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 335 shares during the period. Finally, Arizona State Retirement System raised its position in shares of NNN REIT by 0.7% in the second quarter. Arizona State Retirement System now owns 52,497 shares of the real estate investment trust's stock valued at $2,443,000 after purchasing an additional 354 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

NNN REIT Trading Down 0.9%

Shares of NNN opened at $41.39 on Thursday. The business's 50-day moving average price is $41.74 and its 200-day moving average price is $44.23. NNN REIT, Inc. has a twelve month low of $38.90 and a twelve month high of $50.00. The stock has a market cap of $8.03 billion, a PE ratio of 19.71, a P/E/G ratio of 5.11 and a beta of 0.77. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.10.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.05. NNN REIT had a net margin of 40.89% and a return on equity of 8.93%. The firm had revenue of $249.68 million for the quarter, compared to the consensus estimate of $245.37 million. On average, equities analysts forecast that NNN REIT, Inc. will post 3.52 EPS for the current fiscal year.

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, October 30th. NNN REIT's dividend payout ratio is 118.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NNN. Royal Bank Of Canada upped their price target on shares of NNN REIT from $42.00 to $43.00 and gave the company a "sector perform" rating in a research note on Thursday, November 5th. Robert W. Baird set a $49.00 price objective on shares of NNN REIT in a research note on Thursday, August 6th. Barclays lowered their target price on shares of NNN REIT from $47.00 to $43.00 and set an "underweight" rating on the stock in a report on Tuesday, October 20th. Evercore set a $47.00 target price on NNN REIT in a research report on Monday, September 21st. Finally, Truist Financial increased their target price on NNN REIT from $45.00 to $46.00 and gave the stock a "hold" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, NNN REIT presently has a consensus rating of "Hold" and a consensus price target of $46.56.

About NNN REIT

NNN REIT, Inc. is a real estate investment trust that owns and manages freestanding retail properties across the United States. Its portfolio includes properties leased to businesses in a range of retail categories. The company primarily uses long-term, single-tenant net leases. Under these arrangements, tenants generally pay property expenses such as taxes, insurance and maintenance in addition to rent. Founded in 1984, the company was formerly known as National Retail Properties before adopting the NNN REIT name in 2023.

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