38,908 NNN REIT, Inc. $NNN Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in NNN REIT, Inc. (NYSE:NNN) by 6.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 561,534 shares of the real estate investment trust’s stock after selling 38,908 shares during the quarter. ProShare Advisors LLC’s holdings in NNN REIT were worth $23,073,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in NNN REIT in the second quarter worth about $1,242,752,000. Bank of America Corp DE bought a new stake in shares of NNN REIT in the 2nd quarter valued at about $87,737,000. Bank of New York Mellon Corp purchased a new position in shares of NNN REIT in the 2nd quarter worth approximately $85,430,000. Equity Investment Corp purchased a new position in shares of NNN REIT in the 2nd quarter worth approximately $77,566,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of NNN REIT in the 2nd quarter worth approximately $66,584,000. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NNN shares. Huntington started coverage on shares of NNN REIT in a research note on Wednesday, July 15th. They set an “outperform” rating and a $51.00 price objective for the company. Truist Financial initiated coverage on shares of NNN REIT in a research note on Thursday, October 1st. They set a “hold” rating and a $45.00 price objective for the company. Weiss Ratings lowered NNN REIT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Robert W. Baird set a $49.00 price objective on NNN REIT in a research note on Thursday, August 6th. Finally, Wells Fargo & Company reduced their price objective 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. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.88.

NNN REIT Stock Up 1.8%

NNN REIT stock opened at $41.75 on Tuesday. The business’s 50-day moving average price is $42.31 and its 200 day moving average price is $44.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.12. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 5.56 and a beta of 0.78. NNN REIT, Inc. has a 52 week low of $38.90 and a 52 week high of $50.00.

NNN REIT (NYSE:NNN) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $244.27 million during the quarter, compared to the consensus estimate of $240.19 million. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. As a group, sell-side analysts anticipate that NNN REIT, Inc. will post 3.52 earnings per share for the current year.

NNN REIT Announces Dividend

The company also recently announced 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. This represents a $2.48 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, October 30th. NNN REIT’s payout ratio is 121.57%.

About NNN REIT

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

The company’s properties are used by a range of businesses, including convenience stores, automotive service and parts retailers, restaurants, medical and dental services, drugstores, and other consumer-oriented tenants.