OVERSEA CHINESE BANKING Corp Ltd Acquires New Position in NNN REIT, Inc. $NNN

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of NNN REIT, Inc. (NYSE:NNN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,490 shares of the real estate investment trust’s stock, valued at approximately $6,072,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NNN. Pasadena Private Wealth LLC purchased a new position in shares of NNN REIT in the second quarter worth about $1,989,000. one8zero8 LLC purchased a new stake in shares of NNN REIT during the 2nd quarter valued at approximately $209,000. West Family Investments Inc. purchased a new stake in shares of NNN REIT during the 2nd quarter valued at approximately $779,000. NewEdge Wealth LLC purchased a new position in NNN REIT in the 2nd quarter valued at approximately $611,000. Finally, Danske Bank A S purchased a new position in NNN REIT in the 2nd quarter valued at approximately $12,386,000. Institutional investors own 89.96% of the company’s stock.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $46.17 on Friday. The company has a 50 day moving average of $47.07 and a 200 day moving average of $45.14. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.12. The stock has a market cap of $8.86 billion, a P/E ratio of 22.63, a P/E/G ratio of 7.48 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.

NNN REIT (NYSE:NNN) last posted 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 business had revenue of $244.27 million for 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, sell-side analysts forecast that NNN REIT, Inc. will post 3.5 EPS for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. This is a boost from NNN REIT’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, July 31st. NNN REIT’s dividend payout ratio (DPR) is 121.57%.

Analyst Ratings Changes

NNN has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their target price on shares of NNN REIT from $44.00 to $47.00 and gave the company a “sector perform” rating in a report on Thursday, August 6th. Citigroup lifted their price target on NNN REIT from $42.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Robert W. Baird set a $49.00 price objective on NNN REIT in a research note on Thursday, August 6th. Wells Fargo & Company increased their price objective on NNN REIT from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Finally, Huntington began coverage on NNN REIT in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $51.00 target price for the company. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.60.

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.