Pasadena Private Wealth LLC Takes $1.99 Million Position in NNN REIT, Inc. $NNN

Pasadena Private Wealth LLC acquired a new stake in NNN REIT, Inc. (NYSE:NNN) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 42,751 shares of the real estate investment trust’s stock, valued at approximately $1,989,000.

Several other hedge funds have also added to or reduced their stakes in NNN. BlackRock Inc. bought a new stake in NNN REIT during the 2nd quarter worth approximately $1,242,752,000. Bank of New York Mellon Corp acquired a new position in NNN REIT in the 2nd quarter valued at approximately $85,430,000. Equity Investment Corp bought a new position in shares of NNN REIT during the second quarter valued at $77,566,000. Deutsche Bank AG bought a new position in shares of NNN REIT during the second quarter valued at $19,961,000. Finally, Danske Bank A S acquired a new position in shares of NNN REIT during the second quarter worth $12,386,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Stock Up 0.9%

NNN REIT stock opened at $46.24 on Thursday. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 7.41 and a beta of 0.79. NNN REIT, Inc. has a 52-week low of $38.90 and a 52-week high of $50.00. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a 50 day moving average price of $47.07 and a two-hundred day moving average price of $45.11.

NNN REIT (NYSE:NNN) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. NNN REIT had a net margin of 40.35% and a return on equity of 8.70%. The company 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. Equities analysts predict that NNN REIT, Inc. will post 3.5 EPS for the current year.

NNN REIT Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Robert W. Baird set a $49.00 price objective on shares of NNN REIT in a research note on Thursday, August 6th. Wall Street Zen raised NNN REIT from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Morgan Stanley downgraded NNN REIT from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Monday, July 20th. Wells Fargo & Company upped their price target on NNN REIT from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Finally, Citigroup increased their price target on NNN REIT from $42.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, NNN REIT presently has a consensus rating of “Hold” and an average target price of $47.60.

NNN REIT Company 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.