SG Americas Securities LLC Grows Position in NNN REIT, Inc. (NYSE:NNN)

SG Americas Securities LLC lifted its stake in NNN REIT, Inc. (NYSE:NNN - Free Report) by 3,469.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,294 shares of the real estate investment trust's stock after purchasing an additional 88,736 shares during the period. SG Americas Securities LLC's holdings in NNN REIT were worth $3,729,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NNN. Red Spruce Capital LLC raised its position in NNN REIT by 16.9% during the 4th quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust's stock valued at $1,775,000 after purchasing an additional 6,289 shares in the last quarter. Steph & Co. raised its holdings in shares of NNN REIT by 8.2% in the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust's stock valued at $231,000 after acquiring an additional 429 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in NNN REIT in the fourth quarter worth about $206,000. DGS Capital Management LLC bought a new position in NNN REIT during the 3rd quarter worth about $236,000. Finally, Goodman Financial Corp increased its position in NNN REIT by 1.2% during the 3rd quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust's stock valued at $14,065,000 after purchasing an additional 3,388 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

NNN REIT Stock Performance

NYSE:NNN traded up $0.05 during trading hours on Friday, hitting $39.67. 723,909 shares of the company were exchanged, compared to its average volume of 851,018. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. NNN REIT, Inc. has a 52-week low of $37.55 and a 52-week high of $49.57. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.98 and a beta of 1.11. The company's 50 day moving average price is $41.36 and its 200-day moving average price is $44.66.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Friday, January 31st. NNN REIT's dividend payout ratio (DPR) is presently 107.41%.

Insider Activity at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 68,756 shares in the company, valued at $2,922,817.56. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NNN shares. BNP Paribas cut shares of NNN REIT from a "neutral" rating to an "underperform" rating and set a $44.00 price target for the company. in a research report on Monday, November 4th. UBS Group dropped their target price on NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada cut their price target 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 NNN REIT from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Finally, Janney Montgomery Scott lowered NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 target price on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $45.79.

NNN REIT 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.