Reasons to Invest in NNN REIT (NNN)
Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth-quarter 2023 investor letter, a copy of which can be downloaded here. In the fourth quarter, the portfolio gained +14.1% on a net basis, lagging behind R2000V’s advance of +15.2% and above R2500V’s rise of +13.7%. The largest contribution to the gains on the portfolio was the industrial sector. Within Industrials, stock selection was the primary driver. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bernzott Capital Advisors US Small Cap Value Fund featured stocks such as NNN REIT, Inc. (NYSE:NNN) in the fourth quarter 2023 investor letter. NNN REIT, Inc. (NYSE:NNN) is a publicly traded REIT that invests in properties subject to long-term net leases. On February 13, 2024, NNN REIT, Inc. (NYSE:NNN) stock closed at $39.72 per share. One-month return of NNN REIT, Inc. (NYSE:NNN) was -7.65%, and its shares lost 14.86% of their value over the last 52 weeks. NNN REIT, Inc. (NYSE:NNN) has a market capitalization of $7.248 billion.
Bernzott Capital Advisors US Small Cap Value Fund stated the following regarding NNN REIT, Inc. (NYSE:NNN) in its fourth quarter 2023 investor letter:
"NNN REIT, Inc. (NYSE:NNN): NNN is a triple-net lease REIT that maintains a high-quality portfolio, producing consistent results and high occupancy rates throughout all economic cycles. Strong lease renewal rates with very little capex combined with long-term net leases adds stability to operating results. The balance sheet is conservative, with ample capital to make accretive acquisitions. Their strong track record of dividend increases is a testament to the strategy and ability of the long tenured management team."
An aerial view of a REIT operated commercial building.
NNN REIT, Inc. (NYSE:NNN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held NNN REIT, Inc. (NYSE:NNN) at the end of third quarter which was 21 in the previous quarter.
We discussed NNN REIT, Inc. (NYSE:NNN) in another article and shared the list of best high-yield stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
