Chung Wu Investment Group LLC Buys New Shares in NNN REIT, Inc. $NNN

Chung Wu Investment Group LLC 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 Securities and Exchange Commission. The fund bought 700 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in NNN REIT by 3,301.7% during the 1st quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust’s stock valued at $4,186,000 after purchasing an additional 95,253 shares in the last quarter. Goodman Financial Corp grew its stake in shares of NNN REIT by 3.3% in the 1st quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust’s stock worth $13,173,000 after acquiring an additional 9,755 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of NNN REIT by 11.4% in the 1st quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust’s stock worth $16,401,000 after acquiring an additional 39,289 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of NNN REIT by 25.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 546 shares in the last quarter. Finally, Adams Asset Advisors LLC grew its stake in shares of NNN REIT by 49.1% in the 1st quarter. Adams Asset Advisors LLC now owns 18,611 shares of the real estate investment trust’s stock worth $794,000 after acquiring an additional 6,130 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NNN. Barclays lowered shares of NNN REIT from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company reduced their target price on shares of NNN REIT from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. B. Riley increased their price target on shares of NNN REIT from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. UBS Group increased their price target on shares of NNN REIT from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Finally, Evercore ISI increased their price target on shares of NNN REIT from $44.00 to $46.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $44.42.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $42.43 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $8.01 billion, a PE ratio of 20.20, a P/E/G ratio of 4.07 and a beta of 0.95. NNN REIT, Inc. has a twelve month low of $35.80 and a twelve month high of $49.57. The company has a 50-day moving average price of $42.26 and a two-hundred day moving average price of $41.98.

NNN REIT (NYSE:NNN) last issued its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $226.80 million during the quarter, compared to analyst estimates of $224.26 million. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. Equities analysts forecast that NNN REIT, Inc. will post 3.33 EPS for the current year.

NNN REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from NNN REIT’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.7%. NNN REIT’s payout ratio is currently 114.29%.

About NNN REIT

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years.