Amalgamated Bank Sells 2,991 Shares of NNN REIT, Inc. (NYSE:NNN)

Amalgamated Bank lessened its stake in NNN REIT, Inc. (NYSE:NNN) by 3.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,969 shares of the real estate investment trust’s stock after selling 2,991 shares during the quarter. Amalgamated Bank’s holdings in NNN REIT were worth $3,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jeppson Wealth Management LLC increased its holdings in NNN REIT by 9.1% in the 1st quarter. Jeppson Wealth Management LLC now owns 25,602 shares of the real estate investment trust’s stock valued at $1,092,000 after buying an additional 2,129 shares during the period. Inlight Wealth Management LLC bought a new stake in shares of NNN REIT during the 1st quarter worth approximately $57,000. Adams Asset Advisors LLC boosted its position in shares of NNN REIT by 49.1% during the 1st quarter. Adams Asset Advisors LLC now owns 18,611 shares of the real estate investment trust’s stock worth $794,000 after acquiring an additional 6,130 shares in the last quarter. Sound Income Strategies LLC increased its stake in NNN REIT by 11.4% in the first quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust’s stock valued at $16,401,000 after acquiring an additional 39,289 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in NNN REIT by 25.6% during the first quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 546 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

NNN has been the topic of a number of research analyst reports. UBS Group reduced their target price on NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Barclays dropped their price objective on NNN REIT from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 21st. Wells Fargo & Company lifted their target price on NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Evercore ISI increased their target price on shares of NNN REIT from $43.00 to $44.00 and gave the stock an “in-line” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.62.

NNN REIT Price Performance

Shares of NNN opened at $43.51 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.03. The stock has a market cap of $8.18 billion, a PE ratio of 20.33, a PEG ratio of 4.10 and a beta of 0.92. NNN REIT, Inc. has a 12-month low of $35.80 and a 12-month high of $49.57. The business has a 50-day simple moving average of $41.98 and a two-hundred day simple moving average of $41.12.

NNN REIT (NYSE:NNN) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $230.85 million for the quarter, compared to analysts’ expectations of $219.68 million. NNN REIT had a return on equity of 9.23% and a net margin of 45.09%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 earnings per share. Analysts anticipate that NNN REIT, Inc. will post 3.33 earnings per share for the current fiscal year.

NNN REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.33%. The ex-dividend date was Wednesday, April 30th. NNN REIT’s dividend payout ratio is currently 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.