Vise Technologies Inc. purchased a new stake in shares of NNN REIT, Inc. (NYSE:NNN – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 13,280 shares of the real estate investment trust’s stock, valued at approximately $618,000.
A number of other hedge funds have also recently bought and sold shares of NNN. Clearstead Trust LLC acquired a new position in shares of NNN REIT during the 2nd quarter worth approximately $27,000. Avalon Trust Co acquired a new stake in shares of NNN REIT in the 2nd quarter valued at approximately $38,000. Root Financial Partners LLC boosted its holdings in shares of NNN REIT by 3,354.1% in the 1st quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 1,241 shares during the last quarter. Ascentis Independent Advisors bought a new position in shares of NNN REIT in the first quarter valued at $76,000. Finally, Global Retirement Partners LLC acquired a new position in NNN REIT during the second quarter worth $89,000. 89.96% of the stock is currently owned by institutional investors.
NNN REIT Trading Up 1.1%
Shares of NNN stock opened at $46.33 on Tuesday. 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 $8.89 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 7.41 and a beta of 0.79. The firm has a 50 day moving average price of $47.06 and a two-hundred day moving average price of $45.20. 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 Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.62 dividend. This is a positive change from NNN REIT’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, July 31st. This represents a $2.48 annualized dividend and a yield of 5.4%. NNN REIT’s dividend payout ratio is presently 121.57%.
Wall Street Analysts Forecast Growth
NNN has been the topic of several analyst reports. Morgan Stanley lowered shares of 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. Evercore set a $48.00 price objective on shares of NNN REIT in a research note on Thursday, August 6th. Wall Street Zen raised shares of NNN REIT from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Wells Fargo & Company raised their target price on shares of NNN REIT from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Finally, National Bank Financial set a $50.00 price target on NNN REIT 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $47.60.
View Our Latest Stock Analysis on NNN REIT
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.
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