Strengthening Families & Communities LLC Has $78,000 Stock Position in NNN REIT, Inc. (NYSE:NNN)

Strengthening Families & Communities LLC decreased its stake in NNN REIT, Inc. (NYSE:NNN - Free Report) by 97.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,911 shares of the real estate investment trust's stock after selling 61,327 shares during the period. Strengthening Families & Communities LLC's holdings in NNN REIT were worth $78,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NNN. Farther Finance Advisors LLC grew its stake in NNN REIT by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust's stock valued at $110,000 after purchasing an additional 280 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of NNN REIT in the 4th quarter worth approximately $206,000. DGS Capital Management LLC lifted its holdings in shares of NNN REIT by 9.5% in the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust's stock worth $218,000 after purchasing an additional 461 shares during the last quarter. Steph & Co. lifted its holdings in shares of NNN REIT by 8.2% in the 4th 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 last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of NNN REIT in the 4th quarter worth approximately $527,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

NNN has been the topic of several recent research reports. BNP Paribas downgraded NNN REIT from a "neutral" rating to an "underperform" rating and set a $44.00 price target on the stock. in a report on Monday, November 4th. Robert W. Baird lifted their target price on NNN REIT from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Colliers Securities downgraded NNN REIT from a "buy" rating to a "neutral" rating in a research note on Friday, November 1st. Morgan Stanley raised NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 target price on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada cut their target price on NNN REIT from $45.00 to $43.00 and set a "sector perform" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $45.19.

Insider Buying and Selling

In related news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total value of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares in the company, valued at $2,922,817.56. The trade was a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.82% of the company's stock.

NNN REIT Price Performance

Shares of NNN stock traded down $0.36 during mid-day trading on Friday, hitting $40.45. 1,550,020 shares of the stock traded hands, compared to its average volume of 1,244,994. NNN REIT, Inc. has a twelve month low of $37.55 and a twelve month high of $49.57. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The company's 50-day simple moving average is $40.14 and its 200-day simple moving average is $44.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date is Friday, January 31st. NNN REIT's payout ratio is 107.41%.

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.