Sumitomo Mitsui Trust Group Inc. Sells 433,341 Shares of NNN REIT, Inc. $NNN

Key Points

• Sumitomo Mitsui Trust Group cut its NNN REIT stake by 65.9%, selling 433,341 shares in the third quarter and retaining 224,261 shares, valued at about $9.2 million.
• NNN REIT beat quarterly expectations, reporting earnings of $0.57 per share versus $0.52 forecast and revenue of $249.68 million versus $245.37 million expected.
• The company announced a quarterly dividend of $0.62 per share, equivalent to a 6.0% yield at the reported share price. Analysts’ average rating was “Hold,” with an average price target of $46.50.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) by 65.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 224,261 shares of the real estate investment trust's stock after selling 433,341 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.12% of NNN REIT worth $9,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in 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 purchasing an additional 335 shares during the last quarter. Clearstead Trust LLC acquired a new position in NNN REIT in the 2nd quarter valued at about $27,000. Avalon Trust Co acquired a new position in NNN REIT in the 2nd quarter valued at about $38,000. Horizons Wealth Management purchased a new stake in shares of NNN REIT in the 3rd quarter valued at approximately $40,000. Finally, Pension & Wealth Management Advisors Inc. purchased a new stake in shares of NNN REIT in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 89.96% of the company's stock.

NNN REIT Trading Down 0.6%

Shares of NNN traded down $0.26 during trading on Friday, reaching $41.20. 3,159,858 shares of the company traded hands, compared to its average volume of 2,697,968. The stock has a 50-day simple moving average of $41.96 and a 200-day simple moving average of $44.25. The stock has a market cap of $7.91 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. NNN REIT, Inc. has a twelve month low of $38.90 and a twelve month high of $50.00. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.12.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The real estate investment trust reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.05. NNN REIT had a net margin of 40.35% and a return on equity of 8.70%. The firm had revenue of $249.68 million during the quarter, compared to analysts' expectations of $245.37 million. On average, analysts anticipate that NNN REIT, Inc. will post 3.52 earnings per share for the current year.

NNN REIT Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NNN shares. Evercore set a $47.00 price target on shares of NNN REIT in a report on Monday, September 21st. B. Riley Financial reiterated a "neutral" rating and issued a $47.50 price objective (up from $46.00) on shares of NNN REIT in a research report on Wednesday, August 12th. Robert W. Baird set a $49.00 target price on NNN REIT in a research note on Thursday, August 6th. Wells Fargo & Company reduced their target price on NNN REIT from $47.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, October 19th. Finally, Royal Bank Of Canada upped their price target on NNN REIT from $42.00 to $43.00 and gave the company a "sector perform" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $46.50.

Key Stories Impacting NNN REIT

Here are the key news stories impacting NNN REIT this week:

• Positive Sentiment: NNN beat Q3 expectations, reporting $0.57 per share versus a $0.52 consensus and revenue of $249.68 million versus $245.37 million expected. Occupancy was 99.2%, and the company maintained its guidance—supportive signs for operating performance. NNN REIT Q3 2026: Earnings Beat, 99.2% Occupancy, and Guidance Held
• Positive Sentiment: Huntington initiated coverage with a “strong buy” rating. NNN was also included in a roundup of REITs with generous dividends following favorable Q3 results, which may appeal to income-focused investors. 5 REIT Stocks With Generous Dividends to Consider After Q3 Earnings
• Neutral Sentiment: RBC raised its price target from $42 to $43 and kept a “sector perform” rating, signaling modestly improved valuation expectations but a neutral outlook. RBC analyst recommendations
• Negative Sentiment: Citigroup lowered its target from $46 to $44 and maintained a “neutral” rating. The reduced target could limit near-term optimism, despite implying potential upside from the then-current share price. Citigroup analyst recommendations

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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