Amalgamated Bank Decreases Stock Position in NNN REIT, Inc. (NYSE:NNN)

Amalgamated Bank reduced its position in NNN REIT, Inc. (NYSE:NNNFree Report) by 11.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,668 shares of the real estate investment trust’s stock after selling 13,436 shares during the period. Amalgamated Bank owned about 0.05% of NNN REIT worth $4,260,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. DGS Capital Management LLC purchased a new stake in NNN REIT during the 1st quarter valued at $212,000. Sound Income Strategies LLC raised its stake in NNN REIT by 96,000.0% during the 1st quarter. Sound Income Strategies LLC now owns 48,050 shares of the real estate investment trust’s stock valued at $2,054,000 after buying an additional 48,000 shares during the last quarter. Riverview Trust Co purchased a new stake in NNN REIT during the 1st quarter valued at $43,000. Steph & Co. purchased a new stake in NNN REIT during the 1st quarter valued at $170,000. Finally, Strategic Advocates LLC purchased a new stake in NNN REIT during the 1st quarter valued at $329,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, BNP Paribas upgraded shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 target price for the company in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.50.

View Our Latest Stock Analysis on NNN

NNN REIT Stock Performance

Shares of NNN stock traded up $0.19 during mid-day trading on Friday, reaching $41.30. 517,502 shares of the company’s stock traded hands, compared to its average volume of 1,186,490. NNN REIT, Inc. has a 12 month low of $34.38 and a 12 month high of $44.87. The firm has a 50 day moving average price of $41.58 and a two-hundred day moving average price of $41.37. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $7.57 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 3.25 and a beta of 1.00.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.565 per share. This represents a $2.26 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date was Monday, April 29th. NNN REIT’s payout ratio is 103.67%.


(Free Report)

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.

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Institutional Ownership by Quarter for NNN REIT (NYSE:NNN)

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