Goodman Financial Corp Acquires 9,054 Shares of NNN REIT, Inc. (NYSE:NNN)

Goodman Financial Corp boosted its stake in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 299,115 shares of the real estate investment trust's stock after buying an additional 9,054 shares during the quarter. NNN REIT makes up approximately 2.6% of Goodman Financial Corp's portfolio, making the stock its 23rd largest holding. Goodman Financial Corp owned about 0.16% of NNN REIT worth $12,219,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NNN. Lindbrook Capital LLC raised its stake in shares of NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 305 shares during the period. EverSource Wealth Advisors LLC raised its stake in NNN REIT by 882.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust's stock valued at $202,000 after acquiring an additional 4,449 shares during the period. Everence Capital Management Inc. bought a new stake in NNN REIT in the 4th quarter valued at about $206,000. DGS Capital Management LLC lifted its holdings in NNN REIT by 9.5% during the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust's stock valued at $218,000 after purchasing an additional 461 shares during the last quarter. Finally, Steph & Co. boosted its position in NNN REIT by 8.2% during the fourth 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. Institutional investors own 89.96% of the company's stock.

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NNN REIT Price Performance

NNN stock traded down $0.19 during midday trading on Tuesday, reaching $41.33. The company had a trading volume of 1,976,776 shares, compared to its average volume of 1,077,811. The firm has a 50-day moving average price of $40.88 and a 200-day moving average price of $43.23. The company has a market capitalization of $7.77 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.06 and a beta of 1.10. 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 1.55 and a quick ratio of 1.55.

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.61%. NNN REIT's dividend payout ratio is presently 107.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NNN shares. Morgan Stanley upgraded shares of NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 price target on the stock in a research note on Wednesday, January 15th. B. Riley reaffirmed a "neutral" rating and issued a $43.00 price target (down from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft initiated coverage on NNN REIT in a research note on Wednesday, December 11th. They set a "hold" rating and a $46.00 price objective on the stock. Barclays raised their target price on NNN REIT from $46.00 to $47.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Finally, Evercore ISI began coverage on NNN REIT in a research report on Friday, January 31st. They set an "inline" rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $44.54.

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.