NNN REIT, Inc. (NYSE:NNN) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in NNN REIT, Inc. (NYSE:NNN - Free Report) by 91.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,558 shares of the real estate investment trust's stock after selling 27,659 shares during the quarter. SG Americas Securities LLC's holdings in NNN REIT were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC lifted its holdings in shares of NNN REIT by 451.3% in the 2nd quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust's stock worth $11,285,000 after buying an additional 216,855 shares during the period. Amalgamated Bank lifted its holdings in shares of NNN REIT by 4.1% in the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust's stock worth $4,420,000 after buying an additional 4,088 shares during the period. Nicholas Hoffman & Company LLC. lifted its holdings in shares of NNN REIT by 1.8% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust's stock worth $568,000 after buying an additional 240 shares during the period. Raymond James Trust N.A. lifted its stake in shares of NNN REIT by 19.6% during the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust's stock worth $550,000 after purchasing an additional 2,120 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its stake in shares of NNN REIT by 32.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust's stock worth $243,000 after purchasing an additional 1,414 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NNN. Wells Fargo & Company restated an "equal weight" rating and set a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. UBS Group upped their price objective on NNN REIT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. StockNews.com upgraded NNN REIT from a "hold" rating to a "buy" rating in a research note on Friday, August 2nd. B. Riley upped their price objective on NNN REIT from $42.50 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Finally, Raymond James upped their price objective on NNN REIT from $47.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $47.33.

Insider Activity

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the sale, the executive vice president now directly owns 69,756 shares of the company's stock, valued at $3,270,161.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.82% of the company's stock.

NNN REIT Stock Down 2.2 %

NNN REIT stock traded down $1.05 during midday trading on Friday, reaching $46.58. The company's stock had a trading volume of 799,997 shares, compared to its average volume of 813,268. The stock's 50-day simple moving average is $47.81 and its 200-day simple moving average is $44.61. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. NNN REIT, Inc. has a 52-week low of $34.61 and a 52-week high of $49.57. The stock has a market capitalization of $8.55 billion, a P/E ratio of 20.98, a PEG ratio of 3.86 and a beta of 1.09.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.24). The firm had revenue of $216.81 million during the quarter, compared to analyst estimates of $212.30 million. NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. On average, sell-side analysts expect that NNN REIT, Inc. will post 3.3 EPS for the current year.

NNN REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Thursday, October 31st. NNN REIT's dividend payout ratio is presently 104.50%.

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.