VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.36 Million in NNN REIT, Inc. $NNN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in NNN REIT, Inc. (NYSE:NNN) during the 2nd quarter, Holdings Channel reports. The firm bought 50,650 shares of the real estate investment trust’s stock, valued at approximately $2,357,000.

A number of other large investors also recently made changes to their positions in NNN. California State Teachers Retirement System lifted its holdings in NNN REIT by 4,457.0% during the 2nd quarter. California State Teachers Retirement System now owns 10,288,760 shares of the real estate investment trust’s stock worth $478,736,000 after purchasing an additional 10,062,979 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in NNN REIT in the 2nd quarter valued at $204,000. Wedmont Private Capital acquired a new position in NNN REIT in the 2nd quarter valued at $208,000. HB Wealth Management LLC increased its position in NNN REIT by 161.8% during the 2nd quarter. HB Wealth Management LLC now owns 28,943 shares of the real estate investment trust’s stock worth $1,347,000 after buying an additional 17,889 shares during the period. Finally, AlphaGrep UK Ltd bought a new position in NNN REIT during the 2nd quarter worth $456,000. Institutional investors own 89.96% of the company’s stock.

NNN REIT Trading Down 0.6%

Shares of NNN REIT stock opened at $43.84 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.12. NNN REIT, Inc. has a 12-month low of $38.90 and a 12-month high of $50.00. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 7.14 and a beta of 0.79. The firm’s 50-day moving average price is $46.76 and its two-hundred day moving average price is $45.34.

NNN REIT (NYSE:NNN) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $244.27 million during the quarter, compared to the consensus estimate of $240.19 million. NNN REIT had a net margin of 40.35% and a return on equity of 8.70%. NNN REIT has set its FY 2026 guidance at 3.500-3.540 EPS. On average, analysts forecast that NNN REIT, Inc. will post 3.5 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.62 per share. The ex-dividend date was Friday, July 31st. This is a boost from NNN REIT’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 5.7%. NNN REIT’s dividend payout ratio is currently 121.57%.

Analysts Set New Price Targets

NNN has been the subject of a number of recent research reports. Weiss Ratings raised shares of NNN REIT from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 1st. Huntington started coverage on shares of NNN REIT in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $51.00 price objective for the company. Robert W. Baird set a $49.00 target price on shares of NNN REIT in a research report on Thursday, August 6th. Barclays lifted their price target on shares of NNN REIT from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Friday, September 4th. Finally, Morgan Stanley downgraded NNN REIT from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.60.

NNN REIT Company Profile

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

NNN REIT’s properties serve a range of retail and service-oriented businesses, including convenience stores, restaurants, automotive service locations, auto parts retailers and other necessity-based retailers.