Cornercap Investment Counsel Inc. Sells 13,439 Shares of NNN REIT, Inc. (NYSE:NNN)

Cornercap Investment Counsel Inc. cut its position in NNN REIT, Inc. (NYSE:NNN - Free Report) by 44.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,956 shares of the real estate investment trust's stock after selling 13,439 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in NNN REIT were worth $822,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC raised its position in shares of NNN REIT by 451.3% during the second quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust's stock worth $11,285,000 after purchasing an additional 216,855 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of NNN REIT by 17.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust's stock valued at $9,134,000 after purchasing an additional 28,476 shares during the period. Handelsbanken Fonder AB lifted its position in 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 worth $2,531,000 after buying an additional 15,100 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in NNN REIT in the 1st quarter worth about $184,000. Finally, Amalgamated Bank lifted its holdings in shares of NNN REIT by 4.1% during the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust's stock valued at $4,420,000 after buying an additional 4,088 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

NNN REIT Price Performance

NYSE NNN traded up $0.37 during trading hours on Friday, reaching $42.20. 838,582 shares of the company's stock were exchanged, compared to its average volume of 1,172,351. The firm has a fifty day moving average of $46.73 and a 200-day moving average of $44.85. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. NNN REIT, Inc. has a one year low of $38.49 and a one year high of $49.57. The stock has a market cap of $7.91 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.58 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.50%. NNN REIT's dividend payout ratio is 107.41%.

Analyst Ratings Changes

A number of brokerages have recently commented on NNN. Royal Bank of Canada lowered their price objective on NNN REIT from $48.00 to $45.00 and set a "sector perform" rating on the stock in a report on Friday, November 1st. Robert W. Baird upped their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Wells Fargo & Company reissued an "equal weight" rating and set a $50.00 target price (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. B. Riley boosted their price objective on NNN REIT from $42.50 to $49.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Finally, UBS Group cut 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 note on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $46.29.

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.