NNN REIT, Inc. (NYSE:NNN) Stock Position Raised by NBC Securities Inc.

NBC Securities Inc. lifted its holdings in NNN REIT, Inc. (NYSE:NNN) by 104,000.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,082 shares of the real estate investment trust’s stock after acquiring an additional 2,080 shares during the quarter. NBC Securities Inc.’s holdings in NNN REIT were worth $88,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC grew its stake in NNN REIT by 12.0% in the fourth quarter. Pathway Financial Advisers LLC now owns 12,840 shares of the real estate investment trust’s stock valued at $525,000 after purchasing an additional 1,374 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of NNN REIT by 6.5% during the 4th quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust’s stock worth $2,271,000 after purchasing an additional 3,400 shares during the last quarter. Amalgamated Bank lifted its position 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 worth $3,634,000 after purchasing an additional 1,521 shares during the last quarter. Lindbrook Capital LLC raised its holdings in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 305 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in NNN REIT by 882.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 4,449 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank of Canada cut their price target on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating for the company in a report on Wednesday, February 12th. UBS Group decreased their price target on NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Barclays reduced their price objective on NNN REIT from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 21st. Wells Fargo & Company upped their price objective on NNN REIT from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, B. Riley reissued a “neutral” rating and issued a $43.00 price target (down previously from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, NNN REIT currently has an average rating of “Hold” and an average price target of $44.46.

NNN REIT Stock Performance

Shares of NNN REIT stock opened at $42.48 on Wednesday. The stock’s fifty day simple moving average is $41.04 and its 200 day simple moving average is $41.14. The company has a market capitalization of $7.98 billion, a PE ratio of 19.76, a PEG ratio of 2.06 and a beta of 0.92. 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, Inc. has a 12 month low of $35.80 and a 12 month high of $49.57.

NNN REIT (NYSE:NNN) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $230.85 million during the quarter, compared to analysts’ expectations of $219.68 million. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. On average, research analysts predict that NNN REIT, Inc. will post 3.33 EPS for the current year.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Wednesday, April 30th. NNN REIT’s payout ratio is 108.41%.

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.