NNN REIT, Inc. $NNN Stock Sold by Brighton Jones LLC

Brighton Jones LLC trimmed its holdings in NNN REIT, Inc. (NYSE:NNN) by 31.7% in the 3rd quarter, Holdings Channel reports. The fund owned 26,800 shares of the real estate investment trust’s stock after selling 12,411 shares during the quarter. Brighton Jones LLC’s holdings in NNN REIT were worth $1,101,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC grew its stake in shares of NNN REIT by 1.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 52,364 shares of the real estate investment trust’s stock worth $2,152,000 after acquiring an additional 725 shares during the period. Kestra Advisory Services LLC increased its holdings in NNN REIT by 5.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 49,445 shares of the real estate investment trust’s stock worth $2,032,000 after acquiring an additional 2,627 shares in the last quarter. Platform Technology Partners raised its position in shares of NNN REIT by 23.7% during the 3rd quarter. Platform Technology Partners now owns 6,469 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 1,241 shares during the period. Commonwealth Equity Services LLC raised its holdings in NNN REIT by 5.8% during the third quarter. Commonwealth Equity Services LLC now owns 140,318 shares of the real estate investment trust’s stock valued at $5,766,000 after acquiring an additional 7,635 shares during the period. Finally, Covestor Ltd boosted its position in shares of NNN REIT by 64.3% during the third quarter. Covestor Ltd now owns 800 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 313 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Price Performance

Shares of NNN opened at $41.39 on Thursday. The company has a 50 day moving average of $41.74 and a two-hundred day moving average of $44.23. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 5.11 and a beta of 0.77. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.10. NNN REIT, Inc. has a twelve month low of $38.90 and a twelve month high of $50.00.

NNN REIT (NYSE:NNN) last released its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. NNN REIT had a return on equity of 8.93% and a net margin of 40.89%. The firm had revenue of $249.68 million during the quarter, compared to the consensus estimate of $245.37 million. As a group, analysts predict that NNN REIT, Inc. will post 3.52 earnings per share for the current fiscal year.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, October 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 6.0%. NNN REIT’s dividend payout ratio (DPR) is currently 118.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NNN shares. Wells Fargo & Company dropped their price target on NNN REIT from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. B. Riley Financial reiterated a “neutral” rating and set a $47.50 price objective (up from $46.00) on shares of NNN REIT in a research report on Wednesday, August 12th. Morgan Stanley raised shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a research note on Monday, September 21st. Evercore set a $47.00 target price on shares of NNN REIT in a report on Monday, September 21st. Finally, National Bank Financial set a $50.00 target price on shares of NNN REIT in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, NNN REIT currently has an average rating of “Hold” and an average target price of $46.56.

NNN REIT Profile

NNN REIT, Inc. is a real estate investment trust that owns and manages freestanding retail properties across the United States. Its portfolio includes properties leased to businesses in a range of retail categories. The company primarily uses long-term, single-tenant net leases. Under these arrangements, tenants generally pay property expenses such as taxes, insurance and maintenance in addition to rent. Founded in 1984, the company was formerly known as National Retail Properties before adopting the NNN REIT name in 2023.