Captrust Financial Advisors Sells 1,281 Shares of NNN REIT, Inc. (NYSE:NNN)

Captrust Financial Advisors decreased its holdings in NNN REIT, Inc. (NYSE:NNN) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,371 shares of the real estate investment trust’s stock after selling 1,281 shares during the quarter. Captrust Financial Advisors’ holdings in NNN REIT were worth $4,672,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NNN. Sound Income Strategies LLC increased its holdings in NNN REIT by 9.6% during the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after buying an additional 30,146 shares during the last quarter. Goodman Financial Corp lifted its position in NNN REIT by 3.1% during the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock valued at $12,219,000 after purchasing an additional 9,054 shares in the last quarter. SG Americas Securities LLC grew its holdings in NNN REIT by 3,469.0% during the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after purchasing an additional 88,736 shares during the period. Amalgamated Bank increased its position in NNN REIT by 1.7% in the fourth quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust’s stock worth $3,634,000 after buying an additional 1,521 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of NNN REIT by 6.5% during the 4th quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust’s stock valued at $2,271,000 after buying an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NNN. B. Riley reiterated a “neutral” rating and set a $43.00 price objective (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Janney Montgomery Scott cut shares of 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. Evercore ISI began coverage on NNN REIT in a research note on Friday, January 31st. They issued an “inline” rating and a $42.00 price target for the company. Barclays boosted their price objective on NNN REIT from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.54.

NNN REIT Trading Up 0.6 %

Shares of NNN opened at $41.70 on Friday. The company’s fifty day simple moving average is $41.34 and its 200-day simple moving average is $41.52. The company has a market cap of $7.84 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.06 and a beta of 0.92. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT, Inc. has a twelve month low of $35.80 and a twelve month high of $49.57.

NNN REIT (NYSE:NNN) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. The business had revenue of $230.85 million during the quarter, compared to the consensus estimate of $219.68 million. NNN REIT had a net margin of 45.65% and a return on equity of 9.28%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, analysts expect that NNN REIT, Inc. will post 3.33 EPS for the current year.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.58 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.32 dividend on an annualized basis and a yield of 5.56%. NNN REIT’s payout ratio is 108.41%.

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.