NNN REIT, Inc. (NYSE:NNN) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC increased its position in shares of NNN REIT, Inc. (NYSE:NNN) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 345,264 shares of the real estate investment trust’s stock after purchasing an additional 30,146 shares during the quarter. Sound Income Strategies LLC’s holdings in NNN REIT were worth $14,104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. SG Americas Securities LLC increased its holdings in shares of NNN REIT by 3,469.0% during the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after purchasing an additional 88,736 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in NNN REIT by 17.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after buying an additional 28,476 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after acquiring an additional 15,100 shares during the last quarter. Red Spruce Capital LLC raised its holdings in NNN REIT by 16.9% during the 4th quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock worth $1,775,000 after buying an additional 6,289 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in shares of NNN REIT in the 4th quarter valued at approximately $206,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the transaction, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. This represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

NNN REIT Stock Performance

NNN opened at $39.61 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 1.98 and a beta of 1.11. The business’s 50-day moving average price is $41.41 and its two-hundred day moving average price is $44.65. NNN REIT, Inc. has a 1 year low of $37.55 and a 1 year high of $49.57.

NNN REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date is Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is currently 107.41%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NNN shares. Royal Bank of Canada dropped their price objective on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Robert W. Baird boosted their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group lowered NNN REIT from a “buy” rating to a “hold” rating and lowered their target price for the company from $52.00 to $43.00 in a report on Thursday, January 2nd. Morgan Stanley raised shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Wednesday, January 15th. Finally, StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.79.

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.