SG Americas Securities LLC Increases Stake in NNN REIT, Inc. (NYSE:NNN)

SG Americas Securities LLC boosted its holdings in NNN REIT, Inc. (NYSE:NNN) by 3,469.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,294 shares of the real estate investment trust’s stock after purchasing an additional 88,736 shares during the period. SG Americas Securities LLC’s holdings in NNN REIT were worth $3,729,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NNN. Red Spruce Capital LLC lifted its stake in shares of NNN REIT by 16.9% in 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. Steph & Co. increased its stake in NNN REIT by 8.2% in the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 429 shares during the period. Everence Capital Management Inc. bought a new stake in NNN REIT in the fourth quarter valued at approximately $206,000. DGS Capital Management LLC purchased a new stake in shares of NNN REIT during the third quarter valued at approximately $236,000. Finally, Goodman Financial Corp grew its holdings in shares of NNN REIT by 1.2% in the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock worth $14,065,000 after purchasing an additional 3,388 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NNN REIT

In other 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 value of $42,510.00. Following the sale, the executive vice president now directly owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NNN. UBS Group dropped their price target on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $50.00 target price (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Barclays started coverage on NNN REIT in a report on Tuesday, December 17th. They set an “overweight” rating and a $48.00 price target on the stock. Janney Montgomery Scott cut NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Wednesday, January 15th. Finally, Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and reduced their target price for the company from $52.00 to $43.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.79.

NNN REIT Stock Up 0.1 %

NYSE:NNN opened at $39.67 on Friday. 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 firm’s 50-day moving average price is $41.36 and its 200-day moving average price is $44.65. The company has a market capitalization of $7.44 billion, a PE ratio of 18.37, a P/E/G ratio of 1.98 and a beta of 1.11. NNN REIT, Inc. has a 1-year low of $37.55 and a 1-year high of $49.57.

NNN REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 yield of 5.85%. The ex-dividend date of this dividend is Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

NNN REIT 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.