Sound Income Strategies LLC Has $17.97 Million Stock Holdings in NNN REIT, Inc. $NNN

Key Points

• Sound Income Strategies LLC increased its holdings in NNN REIT by 8.2%, bringing its total stake to 416,058 shares valued at approximately $17.97 million.
• Analysts have mixed views on NNN REIT, with Barclays downgrading the stock to a "strong sell," while Evercore ISI raised its target price from $44.00 to $46.00, rating it "in-line."
• NNN REIT recently announced a dividend increase, with shareholders receiving a $0.60 dividend, up from $0.58, representing a yield of 5.7%.

Sound Income Strategies LLC raised its stake in NNN REIT, Inc. (NYSE:NNN - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 416,058 shares of the real estate investment trust's stock after purchasing an additional 31,505 shares during the period. Sound Income Strategies LLC owned 0.22% of NNN REIT worth $17,965,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in NNN REIT by 3,301.7% in the 1st quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock valued at $4,186,000 after buying an additional 95,253 shares in the last quarter. Adams Asset Advisors LLC increased its holdings in shares of NNN REIT by 119.0% during the second quarter. Adams Asset Advisors LLC now owns 40,766 shares of the real estate investment trust's stock valued at $1,760,000 after acquiring an additional 22,155 shares in the last quarter. Allstate Corp increased its holdings in shares of NNN REIT by 159.5% during the first quarter. Allstate Corp now owns 25,510 shares of the real estate investment trust's stock valued at $1,088,000 after acquiring an additional 15,678 shares in the last quarter. Graypoint LLC acquired a new position in shares of NNN REIT during the first quarter worth approximately $450,000. Finally, Goodman Financial Corp lifted its holdings in shares of NNN REIT by 3.3% in the 1st quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust's stock worth $13,173,000 after purchasing an additional 9,755 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays lowered shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, July 22nd. Evercore ISI boosted their target price on shares of NNN REIT from $44.00 to $46.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. UBS Group raised their price target on shares of NNN REIT from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Finally, Wells Fargo & Company decreased their price objective on NNN REIT from $44.00 to $43.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $44.33.

NNN REIT Stock Up 0.7%

NNN REIT stock opened at $42.32 on Monday. NNN REIT, Inc. has a fifty-two week low of $35.80 and a fifty-two week high of $49.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The firm's 50-day simple moving average is $42.28 and its 200 day simple moving average is $41.95. The stock has a market cap of $7.99 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95.

NNN REIT (NYSE:NNN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. The firm had revenue of $226.80 million for the quarter, compared to analysts' expectations of $224.26 million. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 EPS. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. Research analysts predict that NNN REIT, Inc. will post 3.33 EPS for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a $0.60 dividend. This is a boost from NNN REIT's previous quarterly dividend of $0.58. The ex-dividend date was Thursday, July 31st. This represents a $2.40 dividend on an annualized basis and a yield of 5.7%. NNN REIT's dividend payout ratio is currently 114.29%.

NNN REIT Company Profile

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years.

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