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

Strengthening Families & Communities LLC cut its position in NNN REIT, Inc. (NYSE:NNN) by 97.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,911 shares of the real estate investment trust’s stock after selling 61,327 shares during the quarter. Strengthening Families & Communities LLC’s holdings in NNN REIT were worth $78,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Sound Income Strategies LLC raised its stake in 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 acquiring an additional 30,146 shares during the last quarter. Goodman Financial Corp raised its stake in 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 acquiring an additional 3,388 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in 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 acquiring an additional 28,476 shares during the last quarter. SG Americas Securities LLC raised its stake in 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 acquiring an additional 88,736 shares during the last quarter. Finally, Red Spruce Capital LLC raised its stake in NNN REIT by 16.9% during the 4th quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock valued at $1,775,000 after acquiring an additional 6,289 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NNN has been the subject of several analyst reports. Robert W. Baird upped their price objective on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Jefferies Financial Group downgraded NNN REIT from a “buy” rating to a “hold” rating and reduced their price objective for the company from $52.00 to $43.00 in a research note on Thursday, January 2nd. Barclays cut their target price on NNN REIT from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, NNN REIT has an average rating of “Hold” and a consensus target price of $45.35.

NNN REIT Stock Performance

NNN opened at $38.04 on Tuesday. The stock has a market cap of $7.13 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.94 and a beta of 1.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. The stock’s 50 day simple moving average is $40.36 and its 200 day simple moving average is $44.18. NNN REIT, Inc. has a 1-year low of $37.55 and a 1-year high of $49.57.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date is Friday, January 31st. NNN REIT’s dividend payout ratio is currently 107.41%.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction 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 in the company, valued at approximately $2,922,817.56. This represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

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.