NNN REIT, Inc. (NYSE:NNN) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) by 15.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,439 shares of the real estate investment trust's stock after selling 16,317 shares during the quarter. Amalgamated Bank's holdings in NNN REIT were worth $4,240,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of NNN REIT by 95.5% during the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust's stock worth $2,724,000 after purchasing an additional 31,141 shares in the last quarter. Sound Income Strategies LLC lifted its stake 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 valued at $15,280,000 after purchasing an additional 50,213 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of NNN REIT by 19.6% in the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust's stock valued at $550,000 after purchasing an additional 2,120 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of NNN REIT by 93.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust's stock valued at $99,000 after purchasing an additional 1,123 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust's stock valued at $2,531,000 after purchasing an additional 15,100 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

NNN REIT Stock Up 3.3 %

NYSE NNN traded up $1.35 during trading hours on Friday, hitting $42.86. 1,177,305 shares of the company were exchanged, compared to its average volume of 1,252,377. The company has a 50 day moving average of $47.26 and a two-hundred day moving average of $44.80. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. NNN REIT, Inc. has a 52-week low of $37.69 and a 52-week high of $49.57. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 3.31 and a beta of 1.10.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.41%. NNN REIT's payout ratio is 107.41%.

Analyst Ratings Changes

NNN has been the topic of several recent analyst reports. Colliers Securities lowered NNN REIT from a "buy" rating to a "neutral" rating in a research note on Friday, November 1st. Robert W. Baird upped their price target on NNN REIT from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. B. Riley boosted their price objective on NNN REIT from $42.50 to $49.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Raymond James boosted their price objective on NNN REIT from $47.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, August 21st. Finally, BNP Paribas downgraded NNN REIT from a "neutral" rating to an "underperform" rating and set a $44.00 price objective on the stock. in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $47.14.

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.