Lindbrook Capital LLC Buys 305 Shares of NNN REIT, Inc. (NYSE:NNN)

Lindbrook Capital LLC increased its holdings in shares of NNN REIT, Inc. (NYSE:NNN) by 43.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,010 shares of the real estate investment trust’s stock after purchasing an additional 305 shares during the period. Lindbrook Capital LLC’s holdings in NNN REIT were worth $41,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Sound Income Strategies LLC lifted its holdings in shares of NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after purchasing an additional 30,146 shares in the last quarter. Goodman Financial Corp lifted its holdings in shares of NNN REIT by 1.2% during the 3rd quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after purchasing an additional 3,388 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of NNN REIT by 17.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after purchasing an additional 28,476 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of NNN REIT by 3,469.0% during the 4th 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 in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of NNN REIT by 1.7% during the 4th quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust’s stock valued at $3,634,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on NNN. Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a report on Wednesday, January 15th. UBS Group cut their target price on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. B. Riley restated a “neutral” rating and issued a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Evercore ISI assumed coverage on NNN REIT in a research note on Friday, January 31st. They issued an “inline” rating and a $42.00 target price on the stock. Finally, Barclays boosted their target price on NNN REIT from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.00.

NNN REIT Price Performance

Shares of NNN opened at $42.80 on Friday. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.06 and a beta of 1.10. NNN REIT, Inc. has a 1-year low of $37.55 and a 1-year high of $49.57. The company’s fifty day simple moving average is $40.33 and its 200 day simple moving average is $43.63. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00.

NNN REIT Dividend Announcement

The company also recently announced 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. The ex-dividend date was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.42%. NNN REIT’s payout ratio is 107.91%.

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.