Red Spruce Capital LLC Has $1.78 Million Stake in NNN REIT, Inc. (NYSE:NNN)

Red Spruce Capital LLC boosted its position in shares of NNN REIT, Inc. (NYSE:NNN) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,443 shares of the real estate investment trust’s stock after purchasing an additional 6,289 shares during the period. Red Spruce Capital LLC’s holdings in NNN REIT were worth $1,775,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NNN. Pathway Financial Advisers LLC raised its holdings in shares of NNN REIT by 32.9% in the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 1,414 shares during the last quarter. Handelsbanken Fonder AB lifted its position in NNN REIT by 40.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after buying an additional 15,100 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 553 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of NNN REIT by 19.0% in the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock valued at $15,280,000 after acquiring an additional 50,213 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total value of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NNN shares. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. Janney Montgomery Scott lowered NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research note on Wednesday, January 15th. Barclays assumed coverage on shares of NNN REIT in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 price target on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Finally, Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, NNN REIT presently has a consensus rating of “Hold” and an average target price of $45.79.

NNN REIT Trading Up 1.2 %

Shares of NYSE NNN opened at $40.56 on Wednesday. The firm has a 50 day moving average price of $41.51 and a two-hundred day moving average price of $44.72. The stock has a market cap of $7.61 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11. NNN REIT, Inc. has a 52-week low of $37.55 and a 52-week high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Friday, January 31st. NNN REIT’s payout ratio is presently 107.41%.

NNN REIT Profile

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.