VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $2.36 Million Investment in NNN REIT, Inc. $NNN

Key Points

• Virginia Retirement Systems acquired 50,650 shares of NNN REIT worth approximately $2.36 million, while institutional investors and hedge funds collectively own 89.96% of the stock.
• Analysts maintain a consensus “Hold” rating with an average price target of $47.60; individual targets range from $47 to $51.
• NNN REIT reported quarterly revenue of $244.27 million and adjusted earnings of $0.52 per share, exceeding estimates, and raised its quarterly dividend from $0.60 to $0.62, representing a 5.7% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in NNN REIT, Inc. (NYSE:NNN - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 50,650 shares of the real estate investment trust's stock, valued at approximately $2,357,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in NNN REIT by 4,457.0% during the second quarter. California State Teachers Retirement System now owns 10,288,760 shares of the real estate investment trust's stock worth $478,736,000 after purchasing an additional 10,062,979 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in NNN REIT in the 2nd quarter valued at $204,000. Wedmont Private Capital bought a new stake in NNN REIT during the 2nd quarter worth about $208,000. HB Wealth Management LLC lifted its position in NNN REIT by 161.8% during the 2nd quarter. HB Wealth Management LLC now owns 28,943 shares of the real estate investment trust's stock worth $1,347,000 after buying an additional 17,889 shares in the last quarter. Finally, AlphaGrep UK Ltd bought a new stake in NNN REIT during the 2nd quarter worth about $456,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NNN shares. Evercore set a $48.00 price objective on NNN REIT in a report on Thursday, August 6th. National Bank Financial set a $50.00 price target on NNN REIT in a research report on Monday, July 20th. Barclays raised their price target on NNN REIT from $45.00 to $47.00 and gave the company an "underweight" rating in a research note on Friday, September 4th. Wells Fargo & Company lowered their price target on NNN REIT from $49.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Tuesday, September 1st. Finally, Huntington assumed coverage on NNN REIT in a research note on Wednesday, July 15th. They set an "outperform" rating and a $51.00 price objective on the stock. 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $47.60.

NNN REIT Stock Performance

NNN opened at $43.84 on Friday. 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, Inc. has a 12-month low of $38.90 and a 12-month high of $50.00. The business has a 50 day moving average of $46.76 and a 200-day moving average of $45.34. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 7.14 and a beta of 0.79.

NNN REIT (NYSE:NNN - Get Free Report) last posted 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. NNN REIT had a return on equity of 8.70% and a net margin of 40.35%.The business had revenue of $244.27 million for the quarter, compared to analyst estimates of $240.19 million. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. On average, equities research analysts expect that NNN REIT, Inc. will post 3.5 earnings per share for the current year.

NNN REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is a boost from NNN REIT's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. NNN REIT's payout ratio is currently 121.57%.

NNN REIT Profile

NNN REIT NYSE: NNN is a real estate investment trust that owns and manages a diversified portfolio of retail properties across the United States. The company primarily invests in freestanding properties that are leased to tenants under long-term, triple-net agreements, which generally require tenants to pay property taxes, insurance and maintenance costs in addition to rent.

NNN REIT's properties serve a range of retail and service-oriented businesses, including convenience stores, restaurants, automotive service locations, auto parts retailers and other necessity-based retailers.

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