Goodman Financial Corp Buys 9,054 Shares of NNN REIT, Inc. (NYSE:NNN)

Goodman Financial Corp increased its stake in shares of NNN REIT, Inc. (NYSE:NNN) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 299,115 shares of the real estate investment trust’s stock after buying an additional 9,054 shares during the period. NNN REIT accounts for about 2.6% of Goodman Financial Corp’s portfolio, making the stock its 23rd largest holding. Goodman Financial Corp’s holdings in NNN REIT were worth $12,219,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC lifted its position in NNN REIT by 43.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 305 shares during the last quarter. DGS Capital Management LLC bought a new position in shares of NNN REIT during the third quarter worth approximately $236,000. EverSource Wealth Advisors LLC lifted its holdings in NNN REIT by 882.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 4,449 shares during the last quarter. Everence Capital Management Inc. bought a new stake in NNN REIT in the 4th quarter valued at $206,000. Finally, Steph & Co. grew its holdings in NNN REIT by 8.2% in the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 429 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price for the company. Evercore ISI assumed coverage on shares of NNN REIT in a report on Friday, January 31st. They issued an “inline” rating and a $42.00 price objective for the company. Wells Fargo & Company raised their target price on shares of NNN REIT from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada lowered their price objective on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.54.

NNN REIT Stock Performance

NYSE:NNN opened at $41.59 on Friday. NNN REIT, Inc. has a twelve month low of $37.55 and a twelve month high of $49.57. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. The stock’s 50-day simple moving average is $40.76 and its 200 day simple moving average is $43.37. The firm has a market capitalization of $7.80 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.58%. The ex-dividend date was Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is presently 107.91%.

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.