Kingswood Wealth Advisors LLC purchased a new stake in NNN REIT, Inc. (NYSE:NNN - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 12,901 shares of the real estate investment trust's stock, valued at approximately $527,000.
Other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust's stock valued at $14,104,000 after purchasing an additional 30,146 shares in the last quarter. Goodman Financial Corp boosted its holdings in NNN REIT by 1.2% in the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust's stock worth $14,065,000 after purchasing an additional 3,388 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake 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 acquiring an additional 28,476 shares in the last quarter. SG Americas Securities LLC raised its holdings in NNN REIT by 3,469.0% in the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust's stock worth $3,729,000 after acquiring an additional 88,736 shares during the period. Finally, Strengthening Families & Communities LLC lifted its position in shares of NNN REIT by 7.1% during the 3rd quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust's stock worth $3,066,000 after purchasing an additional 4,170 shares during the last quarter. Institutional investors own 89.96% of the company's stock.
NNN REIT Stock Performance
NNN traded up $0.44 during trading on Thursday, hitting $39.84. The stock had a trading volume of 433,503 shares, compared to its average volume of 957,860. NNN REIT, Inc. has a one year low of $37.55 and a one 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. The company has a 50 day moving average price of $41.16 and a 200-day moving average price of $44.57. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.98 and a beta of 1.11.
NNN REIT Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.82%. The ex-dividend date is Friday, January 31st. NNN REIT's dividend payout ratio (DPR) is presently 107.41%.
Analysts Set New Price Targets
NNN has been the topic of several analyst reports. Barclays assumed coverage on NNN REIT in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $48.00 price objective on the stock. Colliers Securities downgraded NNN REIT from a "buy" rating to a "neutral" rating in a report on Friday, November 1st. UBS Group decreased their price target on NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. 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. Finally, B. Riley lowered their price objective on shares of NNN REIT from $49.00 to $46.50 and set a "buy" rating for the company in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, NNN REIT has a consensus rating of "Hold" and an average target price of $45.79.
Read Our Latest Stock Report on NNN REIT
Insider Activity
In related news, EVP Michelle Lynn Miller sold 1,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 68,756 shares of the company's stock, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company's stock.
About NNN REIT
(
Free Report)
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.
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