Sanctuary Advisors LLC Acquires New Position in NNN REIT, Inc. $NNN

Key Points

• Sanctuary Advisors LLC acquired 189,665 shares of NNN REIT in the second quarter, valued at approximately $8.8 million and representing 0.10% of the company. Institutional investors collectively own 89.96% of the stock.
• NNN REIT reported quarterly EPS of $0.52, exceeding analyst expectations of $0.51, while revenue reached $244.27 million versus the $240.19 million consensus estimate.
• The REIT increased its quarterly dividend to $0.62 per share, or $2.48 annualized, providing a 5.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $47.60.

Sanctuary Advisors LLC bought a new stake in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 189,665 shares of the real estate investment trust's stock, valued at approximately $8,825,000. Sanctuary Advisors LLC owned 0.10% of NNN REIT as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Clearstead Trust LLC acquired a new position in shares of NNN REIT in the second quarter worth $27,000. Avalon Trust Co acquired a new stake in NNN REIT during the second quarter valued at $38,000. Root Financial Partners LLC boosted its position in NNN REIT by 3,354.1% during 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 last quarter. Ascentis Independent Advisors purchased a new position in NNN REIT in the first quarter valued at about $76,000. Finally, Global Retirement Partners LLC acquired a new position in NNN REIT in the 2nd quarter worth about $89,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

NNN REIT Stock Performance

Shares of NNN opened at $46.33 on Tuesday. The company has a market capitalization of $8.89 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 7.41 and a beta of 0.79. NNN REIT, Inc. has a one year low of $38.90 and a one year high of $50.00. 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's fifty day moving average price is $47.06 and its 200 day moving average price is $45.20.

NNN REIT (NYSE:NNN - Get Free Report) last released its 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 during the quarter, compared to analyst estimates 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, analysts expect that NNN REIT, Inc. will post 3.5 earnings per share for the current year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date was Friday, July 31st. This is a positive change from NNN REIT's previous quarterly dividend of $0.60. NNN REIT's dividend payout ratio is currently 121.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird set a $49.00 price target on NNN REIT in a research note on Thursday, August 6th. Citigroup boosted their price target on NNN REIT from $42.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Wall Street Zen upgraded NNN REIT from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Royal Bank Of Canada raised their price objective on shares of NNN REIT from $44.00 to $47.00 and gave the company a "sector perform" rating in a research report on Thursday, August 6th. Finally, Huntington assumed coverage on shares of NNN REIT in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $51.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $47.60.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source