NNN REIT, Inc. $NNN Stock: Jefferies Financial Group Inc. Lowers Position

Jefferies Financial Group Inc. lessened its holdings in NNN REIT, Inc. (NYSE:NNN) by 54.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 650,059 shares of the real estate investment trust’s stock after selling 780,941 shares during the quarter. Jefferies Financial Group Inc.’s holdings in NNN REIT were worth $26,711,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in NNN REIT during the second quarter worth about $1,242,752,000. Equity Investment Corp increased its stake in NNN REIT by 46.1% in the 3rd quarter. Equity Investment Corp now owns 2,435,846 shares of the real estate investment trust’s stock worth $100,089,000 after acquiring an additional 768,831 shares during the last quarter. Bank of America Corp DE bought a new position in NNN REIT in the 2nd quarter worth about $87,737,000. Bank of New York Mellon Corp bought a new position in NNN REIT in the 2nd quarter worth about $85,430,000. Finally, Legal & General Group Plc purchased a new stake in shares of NNN REIT in the 2nd quarter valued at about $45,077,000. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Performance

NYSE NNN opened at $41.39 on Thursday. NNN REIT, Inc. has a 52-week low of $38.90 and a 52-week high of $50.00. The company has a fifty day moving average of $41.74 and a 200-day moving average of $44.23. The company has a market capitalization of $8.03 billion, a P/E ratio of 19.71, a P/E/G ratio of 5.11 and a beta of 0.77. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.58 and a current ratio of 0.58.

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, beating analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $249.68 million for the quarter, compared to analysts’ expectations of $245.37 million. NNN REIT had a return on equity of 8.93% and a net margin of 40.89%. As a group, equities research analysts predict that NNN REIT, Inc. will post 3.52 EPS for the current fiscal year.

NNN REIT Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $50.00 price target for the company in a research report on Monday, September 21st. Wells Fargo & Company cut their price objective on NNN REIT from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. National Bank Financial set a $50.00 price objective on shares of NNN REIT in a research report on Monday, July 20th. Huntington began coverage on shares of NNN REIT in a research note on Wednesday, November 4th. They issued a “strong-buy” rating on the stock. Finally, Robert W. Baird set a $49.00 target price on shares of NNN REIT in a research note on Thursday, August 6th. One 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 company’s stock. According to MarketBeat, NNN REIT presently has a consensus rating of “Hold” and an average price target of $46.56.

About NNN REIT

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.