Farther Finance Advisors LLC Cuts Stock Position in NNN REIT, Inc. $NNN

Farther Finance Advisors LLC cut its holdings in NNN REIT, Inc. (NYSE:NNN) by 47.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,412 shares of the real estate investment trust’s stock after selling 1,270 shares during the quarter. Farther Finance Advisors LLC’s holdings in NNN REIT were worth $61,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NNN. GAMMA Investing LLC increased its position in shares of NNN REIT by 3,301.7% in the first 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. Sound Income Strategies LLC increased its position in shares of NNN REIT by 11.4% in the first quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust’s stock valued at $16,401,000 after buying an additional 39,289 shares in the last quarter. Adams Asset Advisors LLC increased its position in shares of NNN REIT by 119.0% in 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 buying an additional 22,155 shares in the last quarter. Allstate Corp increased its position in shares of NNN REIT by 159.5% in the first quarter. Allstate Corp now owns 25,510 shares of the real estate investment trust’s stock valued at $1,088,000 after buying an additional 15,678 shares in the last quarter. Finally, Graypoint LLC purchased a new stake in shares of NNN REIT in the first quarter valued at approximately $450,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NNN has been the subject of several research reports. B. Riley boosted their price target on NNN REIT from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of NNN REIT in a research report on Saturday, September 27th. UBS Group boosted their price target on NNN REIT from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Wells Fargo & Company dropped their price target on NNN REIT from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Finally, Evercore ISI boosted their price objective on NNN REIT from $44.00 to $46.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, NNN REIT currently has an average rating of “Reduce” and a consensus price target of $44.42.

NNN REIT Stock Down 0.2%

NNN REIT stock opened at $42.84 on Monday. NNN REIT, Inc. has a twelve month low of $35.80 and a twelve month high of $49.57. The stock has a 50 day moving average of $42.25 and a two-hundred day moving average of $41.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 4.07 and a beta of 0.95.

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

NNN REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a $0.60 dividend. The ex-dividend date was Thursday, July 31st. This is an increase from NNN REIT’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 5.6%. NNN REIT’s payout ratio is 114.29%.

NNN REIT 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.