NNN REIT, Inc. $NNN Stock: Tectonic Advisors LLC Increases Stake

Key Points

• Tectonic Advisors increased its NNN REIT stake by 6.7% in the third quarter, adding 25,594 shares to own 405,201 shares valued at approximately $16.65 million. Institutional investors collectively own 89.96% of the company.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $46.88, compared with the stock’s recent price of $41.70.
• NNN REIT declared a quarterly dividend of $0.62 per share, or $2.48 annually, representing a 5.9% yield; its latest quarterly earnings and revenue slightly exceeded analyst expectations.

Tectonic Advisors LLC raised its holdings in NNN REIT, Inc. (NYSE:NNN - Free Report) by 6.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 405,201 shares of the real estate investment trust's stock after buying an additional 25,594 shares during the quarter. Tectonic Advisors LLC owned 0.21% of NNN REIT worth $16,650,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NNN. Parkside Financial Bank & Trust lifted its holdings in shares of NNN REIT by 155.8% during the second quarter. Parkside Financial Bank & Trust now owns 550 shares of the real estate investment trust's stock worth $26,000 after buying an additional 335 shares during the last quarter. Clearstead Trust LLC acquired a new stake in shares of NNN REIT in the second quarter worth $27,000. Avalon Trust Co acquired a new stake in shares of NNN REIT in the second quarter worth $38,000. Horizons Wealth Management acquired a new stake in shares of NNN REIT in the third quarter worth $40,000. Finally, Pension & Wealth Management Advisors Inc. bought a new position in NNN REIT during the third quarter worth $41,000. 89.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on NNN. Evercore set a $47.00 target price on shares of NNN REIT in a research note on Monday, September 21st. Truist Financial started coverage on shares of NNN REIT in a research report on Thursday, October 1st. They issued a "hold" rating and a $45.00 price target on the stock. Royal Bank Of Canada boosted their price objective 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. National Bank Financial set a $50.00 price objective on shares of NNN REIT in a research 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 equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, NNN REIT has a consensus rating of "Hold" and a consensus target price of $46.88.

NNN REIT Stock Performance

Shares of NYSE NNN traded down $0.43 during trading hours on Friday, reaching $41.70. The stock had a trading volume of 2,152,265 shares, compared to its average volume of 2,645,288. The business's fifty day moving average is $42.84 and its two-hundred day moving average is $44.74. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 5.73 and a beta of 0.78. 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 quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping 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. As a group, research analysts expect that NNN REIT, Inc. will post 3.52 EPS for the current year.

NNN REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders 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 dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, October 30th. NNN REIT's dividend payout ratio (DPR) is presently 121.57%.

About NNN REIT

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.

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.