NNN REIT, Inc. (NYSE:NNN) Holdings Trimmed by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in shares of NNN REIT, Inc. (NYSE:NNN) by 91.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,558 shares of the real estate investment trust’s stock after selling 27,659 shares during the quarter. SG Americas Securities LLC’s holdings in NNN REIT were worth $124,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NNN. Sound Income Strategies LLC boosted its stake in NNN REIT by 451.3% during the second quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock valued at $11,285,000 after buying an additional 216,855 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of NNN REIT in the 1st quarter valued at $184,000. Amalgamated Bank boosted its position in shares of NNN REIT by 4.1% in the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after purchasing an additional 4,088 shares during the period. Raymond James Trust N.A. boosted its position in shares of NNN REIT by 19.6% in the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock valued at $550,000 after purchasing an additional 2,120 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of NNN REIT in the 1st quarter valued at $69,000. Institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the sale, the executive vice president now owns 69,756 shares of the company’s stock, valued at $3,270,161.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

NNN has been the subject of a number of recent analyst reports. StockNews.com upgraded NNN REIT from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. Royal Bank of Canada raised their price objective on NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. B. Riley raised their price objective on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group raised their price objective on NNN REIT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.33.

NNN REIT Stock Down 2.2 %

Shares of NNN stock opened at $46.58 on Friday. The stock’s 50 day simple moving average is $47.81 and its 200 day simple moving average is $44.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.72 and a current ratio of 1.72. NNN REIT, Inc. has a twelve month low of $34.61 and a twelve month high of $49.57. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 3.86 and a beta of 1.09.

NNN REIT (NYSE:NNN) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The company had revenue of $216.81 million during the quarter, compared to the consensus estimate of $212.30 million. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that NNN REIT, Inc. will post 3.3 EPS for the current year.

NNN REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Thursday, October 31st. NNN REIT’s dividend payout ratio (DPR) is currently 104.50%.

About NNN REIT

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.