Danske Bank A S acquired a new position in NNN REIT, Inc. (NYSE:NNN – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 266,194 shares of the real estate investment trust’s stock, valued at approximately $12,386,000. Danske Bank A S owned 0.14% of NNN REIT at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Gables Capital Management Inc. bought a new position in shares of NNN REIT in the 2nd quarter worth approximately $292,000. Equity Investment Corp purchased a new position in shares of NNN REIT in the second quarter worth approximately $77,566,000. BlackRock Inc. bought a new stake in shares of NNN REIT during the 2nd quarter valued at $1,242,752,000. Pallas Capital Advisors LLC bought a new stake in shares of NNN REIT during the 2nd quarter valued at $968,000. Finally, Deutsche Bank AG purchased a new stake in shares of NNN REIT in the 2nd quarter worth $19,961,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.
NNN REIT Trading Down 0.2%
Shares of NYSE NNN opened at $46.17 on Friday. The business’s 50 day moving average is $47.07 and its two-hundred day moving average is $45.14. 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 1-year low of $38.90 and a 1-year high of $50.00. The stock has a market capitalization of $8.86 billion, a P/E ratio of 22.63, a PEG ratio of 7.48 and a beta of 0.79.
NNN REIT Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.62 dividend. This is a boost from NNN REIT’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Friday, July 31st. NNN REIT’s dividend payout ratio is 121.57%.
Wall Street Analyst Weigh In
Several research firms have issued reports on NNN. Huntington started coverage on NNN REIT in a report on Wednesday, July 15th. They set an “outperform” rating and a $51.00 price target for the company. Royal Bank Of Canada upped their target price on shares of NNN REIT from $44.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of NNN REIT from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings cut shares of NNN REIT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Morgan Stanley cut 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 note on Monday, July 20th. Three investment 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. According to data from MarketBeat.com, NNN REIT currently has an average rating of “Hold” and a consensus price target of $47.60.
View Our Latest 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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