NNN REIT, Inc. (NYSE:NNN) Shares Purchased by Steph & Co.

Steph & Co. boosted its stake in shares of NNN REIT, Inc. (NYSE:NNN) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,664 shares of the real estate investment trust’s stock after purchasing an additional 429 shares during the period. Steph & Co.’s holdings in NNN REIT were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Everence Capital Management Inc. purchased a new position in shares of NNN REIT in the 4th quarter worth $206,000. Sound Income Strategies LLC raised its holdings in shares of NNN REIT by 19.0% in the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after purchasing an additional 50,213 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of NNN REIT by 14.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 280 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of 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 worth $9,134,000 after purchasing an additional 28,476 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in shares of NNN REIT by 40.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after purchasing an additional 15,100 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

NNN has been the topic of a number of recent research reports. B. Riley reduced their price target on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. BNP Paribas lowered shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a report on Monday, November 4th. StockNews.com downgraded NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Barclays began coverage on NNN REIT in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, Morgan Stanley raised NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.79.

Insider Buying and Selling at NNN REIT

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by insiders.

NNN REIT Price Performance

Shares of NNN stock opened at $39.45 on Thursday. The firm has a fifty day moving average of $41.69 and a two-hundred day moving average of $44.76. The firm has a market cap of $7.40 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.90 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. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85.

NNN REIT Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 5.88%. The ex-dividend date of this dividend is Friday, January 31st. NNN REIT’s dividend payout ratio is currently 107.41%.

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.