Millstone Evans Group LLC Invests $42,000 in NNN REIT, Inc. (NYSE:NNN)

Millstone Evans Group LLC acquired a new stake in shares of NNN REIT, Inc. (NYSE:NNN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,023 shares of the real estate investment trust’s stock, valued at approximately $42,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NNN. Goodman Financial Corp boosted its stake in shares of NNN REIT by 3.1% during the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock valued at $12,219,000 after purchasing an additional 9,054 shares in the last quarter. Cibc World Markets Corp boosted its position in NNN REIT by 12.4% during the 4th quarter. Cibc World Markets Corp now owns 54,572 shares of the real estate investment trust’s stock worth $2,229,000 after buying an additional 6,035 shares during the period. EverSource Wealth Advisors LLC grew its holdings in NNN REIT by 882.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 4,449 shares during the last quarter. Lindbrook Capital LLC increased its position 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 during the period. Finally, Amalgamated Bank raised its stake in shares of NNN REIT by 1.7% during the fourth quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust’s stock valued at $3,634,000 after acquiring an additional 1,521 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NNN shares. Deutsche Bank Aktiengesellschaft started coverage on NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective for the company. Barclays raised their price objective on NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Janney Montgomery Scott cut NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Wednesday, January 15th. Evercore ISI started coverage on shares of NNN REIT in a report on Friday, January 31st. They set an “inline” rating and a $42.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, NNN REIT has a consensus rating of “Hold” and a consensus price target of $44.54.

NNN REIT Price Performance

Shares of NYSE NNN opened at $41.50 on Tuesday. The firm has a market capitalization of $7.78 billion, a P/E ratio of 19.30, a P/E/G ratio of 2.06 and a beta of 1.10. The firm’s 50-day moving average price is $40.88 and its 200-day moving average price is $43.23. 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 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 was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 annualized dividend and a yield of 5.59%. NNN REIT’s payout ratio is currently 107.91%.

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.