Cibc World Markets Corp Purchases 6,035 Shares of NNN REIT, Inc. (NYSE:NNN)

Cibc World Markets Corp increased its position in NNN REIT, Inc. (NYSE:NNN) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,572 shares of the real estate investment trust’s stock after acquiring an additional 6,035 shares during the quarter. Cibc World Markets Corp’s holdings in NNN REIT were worth $2,229,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of NNN REIT by 882.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 4,449 shares during the period. Lindbrook Capital LLC raised its stake in NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 305 shares in the last quarter. Amalgamated Bank raised its stake 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 valued at $3,634,000 after purchasing an additional 1,521 shares in the last quarter. Handelsbanken Fonder AB raised its stake in NNN REIT by 6.5% in the fourth quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust’s stock valued at $2,271,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its stake in NNN REIT by 12.0% in the fourth quarter. Pathway Financial Advisers LLC now owns 12,840 shares of the real estate investment trust’s stock valued at $525,000 after purchasing an additional 1,374 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NNN has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Royal Bank of Canada lowered their target price on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. Barclays lifted their price target on shares of NNN REIT from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Morgan Stanley raised shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research note on Wednesday, January 15th. Finally, B. Riley reissued a “neutral” rating and set a $43.00 price target (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.54.

NNN REIT Stock Down 0.3 %

Shares of NYSE NNN opened at $41.59 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT, Inc. has a 52 week low of $37.55 and a 52 week high of $49.57. The firm’s fifty day moving average is $40.76 and its 200 day moving average is $43.37. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.06 and a beta of 1.10.

NNN REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.58%. The ex-dividend date was Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is currently 107.91%.

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.