The Manufacturers Life Insurance Company Purchases Shares of 165,896 NNN REIT, Inc. $NNN

Key Points

• The Manufacturers Life Insurance Company bought 165,896 shares of NNN REIT worth approximately $7.7 million, while institutional investors collectively own 89.96% of the company.
• Analysts maintain a consensus “Hold” rating, with a consensus price target of $47.60; individual targets range from $46 to $51.
• NNN REIT exceeded quarterly earnings and revenue estimates and increased its quarterly dividend to $0.62 per share, representing a 5.4% annualized yield.

The Manufacturers Life Insurance Company purchased a new position in NNN REIT, Inc. (NYSE:NNN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 165,896 shares of the real estate investment trust's stock, valued at approximately $7,719,000. The Manufacturers Life Insurance Company owned approximately 0.09% of NNN REIT as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Clearstead Trust LLC purchased a new position in shares of NNN REIT in the 2nd quarter valued at approximately $27,000. Avalon Trust Co acquired a new stake in NNN REIT in the 2nd quarter worth approximately $38,000. Root Financial Partners LLC grew its position in NNN REIT by 3,354.1% during the 1st quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 1,241 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in NNN REIT during the 1st quarter worth approximately $76,000. Finally, Global Retirement Partners LLC purchased a new stake in NNN REIT during the 2nd quarter worth approximately $89,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley downgraded shares of NNN REIT from an "overweight" rating to an "equal weight" rating and set a $50.00 price objective for the company. in a research note on Monday, July 20th. Robert W. Baird set a $49.00 target price on NNN REIT in a research report on Thursday, August 6th. Jefferies Financial Group started coverage on NNN REIT in a research note on Monday, June 1st. They issued a "hold" rating and a $47.00 target price for the company. Huntington started coverage on NNN REIT in a research report on Wednesday, July 15th. They set an "outperform" rating and a $51.00 price target for the company. Finally, 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. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $47.60.

NNN REIT Stock Up 0.0%

NNN stock opened at $45.69 on Monday. The company has a market capitalization of $8.77 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 7.38 and a beta of 0.79. NNN REIT, Inc. has a 12 month low of $38.90 and a 12 month high of $50.00. The firm's fifty day simple moving average is $47.10 and its 200-day simple moving average is $45.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.15 and a quick ratio of 1.15.

NNN REIT (NYSE:NNN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. NNN REIT had a net margin of 40.35% and a return on equity of 8.70%. The firm had revenue of $244.27 million during the quarter, compared to analysts' expectations of $240.19 million. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. As a group, equities research analysts forecast that NNN REIT, Inc. will post 3.5 earnings per share for the current year.

NNN REIT Increases Dividend

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

NNN REIT 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.

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