NNN REIT, Inc. $NNN Stock Sold by ProShare Advisors LLC

Key Points

• ProShare Advisors reduced its NNN REIT stake by 6.5% in the third quarter, selling 38,908 shares and retaining 561,534 shares valued at approximately $23.1 million. Institutional investors collectively own about 89.96% of the stock.
• Analysts maintain a generally neutral outlook, with an average rating of “Hold” and an average price target of $46.88, compared with NNN’s reported trading price of $41.75.
• NNN REIT reported quarterly EPS of $0.52, slightly exceeding estimates, and announced a quarterly dividend of $0.62 per share—an annualized yield of about 5.9%.

ProShare Advisors LLC trimmed its stake in NNN REIT, Inc. (NYSE:NNN - Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 561,534 shares of the real estate investment trust's stock after selling 38,908 shares during the period. ProShare Advisors LLC owned about 0.29% of NNN REIT worth $23,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Peak Financial Advisors LLC increased its position in shares of 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 acquiring an additional 254 shares during the period. Interchange Capital Partners LLC boosted its holdings 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. Parkside Financial Bank & Trust boosted its holdings 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. Arizona State Retirement System grew its stake in 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 worth $2,443,000 after purchasing an additional 354 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in NNN REIT by 4.1% in the third quarter. Sigma Planning Corp now owns 9,442 shares of the real estate investment trust's stock worth $388,000 after purchasing an additional 369 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on NNN shares. Truist Financial began coverage on NNN REIT in a report on Thursday, October 1st. They set a "hold" rating and a $45.00 price objective on the stock. Wells Fargo & Company lowered their target price on NNN REIT from $47.00 to $43.00 and set an "equal weight" rating for the company in a report on Monday, October 19th. B. Riley Financial reissued a "neutral" rating and set a $47.50 price target (up from $46.00) on shares of NNN REIT in a research report on Wednesday, August 12th. Evercore set a $47.00 price target on NNN REIT in a research report on Monday, September 21st. Finally, National Bank Financial set a $50.00 price target on NNN REIT in a research note on Monday, July 20th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $46.88.

NNN REIT Trading Up 1.8%

NYSE:NNN opened at $41.75 on Tuesday. The firm has a 50-day simple moving average of $42.31 and a 200-day simple moving average of $44.26. NNN REIT, Inc. has a one year low of $38.90 and a one year high of $50.00. The firm has a market cap of $8.01 billion, a P/E ratio of 20.47, a P/E/G ratio of 5.56 and a beta of 0.78. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.15 and a current ratio of 1.15.

NNN REIT (NYSE:NNN - Get Free Report) last released 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 firm had revenue of $244.27 million for 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 anticipate that NNN REIT, Inc. will post 3.52 EPS for the current fiscal year.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, October 30th. This represents a $2.48 dividend on an annualized basis and a yield of 5.9%. NNN REIT's dividend payout ratio is currently 121.57%.

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 invests in properties that are leased to retail businesses under long-term, triple-net agreements, under which tenants generally pay property taxes, insurance and maintenance costs in addition to rent.

The company's properties are used by a range of businesses, including convenience stores, automotive service and parts retailers, restaurants, medical and dental services, drugstores, and other consumer-oriented tenants.

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