NNN REIT, Inc. (NYSE:NNN) Shares Sold by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC decreased its holdings in shares of NNN REIT, Inc. (NYSE:NNN) by 97.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,911 shares of the real estate investment trust’s stock after selling 61,327 shares during the period. Strengthening Families & Communities LLC’s holdings in NNN REIT were worth $78,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its position 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 worth $3,729,000 after acquiring an additional 88,736 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of NNN REIT by 9.6% during the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock worth $14,104,000 after acquiring an additional 30,146 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of 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 acquiring an additional 28,476 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of NNN REIT during the fourth quarter worth about $527,000. Finally, Red Spruce Capital LLC increased its position in shares of NNN REIT by 16.9% during the fourth quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock worth $1,775,000 after acquiring an additional 6,289 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NNN. Deutsche Bank Aktiengesellschaft initiated coverage on NNN REIT in a research report on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price on the stock. Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. B. Riley decreased their price target on NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Janney Montgomery Scott downgraded NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Wednesday, January 15th. Finally, StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.35.

NNN REIT Stock Performance

Shares of NNN stock opened at $38.04 on Tuesday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average of $40.36 and a two-hundred day moving average of $44.18. NNN REIT, Inc. has a 52 week low of $37.55 and a 52 week high of $49.57. The company has a market cap of $7.13 billion, a P/E ratio of 17.61, a PEG ratio of 1.94 and a beta of 1.11.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.10%. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Insider Activity

In other news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the sale, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

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.