Glenview Trust Co Buys New Stake in NNN REIT, Inc. $NNN

Glenview Trust Co bought a new stake in shares of NNN REIT, Inc. (NYSE:NNN) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,261 shares of the real estate investment trust’s stock, valued at approximately $571,000.

Several other hedge funds also recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC raised its holdings in shares of NNN REIT by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,999 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 251 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of NNN REIT by 11.0% during the third quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 567 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of NNN REIT by 24.4% during the second quarter. GAMMA Investing LLC now owns 2,917 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 573 shares during the last quarter. Clearstead Trust LLC acquired a new stake in shares of NNN REIT during the 2nd quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC boosted its position in NNN REIT by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 6,544 shares of the real estate investment trust’s stock worth $275,000 after acquiring an additional 658 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Performance

Shares of NNN opened at $45.69 on Friday. The stock has a market capitalization of $8.77 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 7.33 and a beta of 0.79. The business’s fifty day moving average price is $47.10 and its 200 day moving average price is $45.27. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.15 and a quick ratio of 1.15. NNN REIT, Inc. has a 12-month low of $38.90 and a 12-month high of $50.00.

NNN REIT (NYSE:NNN) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $244.27 million during the quarter, compared to analyst estimates 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. Equities research analysts forecast that NNN REIT, Inc. will post 3.5 EPS for the current 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 dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, July 31st. 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. NNN REIT’s payout ratio is currently 121.57%.

Analyst Upgrades and Downgrades

Several analysts have commented on NNN shares. Royal Bank Of Canada lifted their price target on NNN REIT from $44.00 to $47.00 and gave the company a “sector perform” rating in a report on Thursday, August 6th. B. Riley Financial reaffirmed a “neutral” rating and set a $47.50 price target (up from $46.00) on shares of NNN REIT in a research report on Wednesday, August 12th. Jefferies Financial Group assumed coverage on shares of NNN REIT in a research report on Monday, June 1st. They issued a “hold” rating and a $47.00 price objective for the company. Citigroup lifted their price target on shares of NNN REIT from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of NNN REIT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, NNN REIT currently has a consensus 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.