Strengthening Families & Communities LLC Grows Position in NNN REIT, Inc. (NYSE:NNN)

Strengthening Families & Communities LLC raised its holdings in shares of NNN REIT, Inc. (NYSE:NNN) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,238 shares of the real estate investment trust’s stock after buying an additional 4,170 shares during the quarter. Strengthening Families & Communities LLC’s holdings in NNN REIT were worth $3,066,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NNN. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 19.0% during 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 during the last quarter. Raymond James Trust N.A. lifted its position in NNN REIT by 19.6% in the second quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 2,120 shares during the last quarter. GAMMA Investing LLC lifted its position in NNN REIT by 93.2% in the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 1,123 shares during the last quarter. Farther Finance Advisors LLC lifted its position in 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 buying an additional 280 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in NNN REIT by 40.7% in the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after buying an additional 15,100 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Trading Up 0.9 %

Shares of NNN stock opened at $42.20 on Monday. The firm has a 50-day moving average price of $46.73 and a 200 day moving average price of $44.91. NNN REIT, Inc. has a twelve month low of $38.49 and a twelve month high of $49.57. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.13 and a beta of 1.10. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT’s dividend payout ratio is currently 107.41%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. UBS Group lowered their price objective on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. StockNews.com lowered shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, B. Riley raised their price objective on shares of NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.29.

NNN REIT Company 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.