NNN REIT, Inc. (NYSE:NNN) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its stake in NNN REIT, Inc. (NYSE:NNN) by 882.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,953 shares of the real estate investment trust’s stock after acquiring an additional 4,449 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in NNN REIT were worth $202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC increased its stake in shares of NNN REIT by 9.6% in the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock worth $14,104,000 after acquiring an additional 30,146 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of NNN REIT in the 4th quarter worth $206,000. SG Americas Securities LLC increased its position in shares of NNN REIT by 3,469.0% during the 4th quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock worth $3,729,000 after purchasing an additional 88,736 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of NNN REIT during the 4th quarter worth about $527,000. Finally, Red Spruce Capital LLC increased its position in shares of 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 worth $1,775,000 after purchasing an additional 6,289 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

NNN REIT Stock Performance

Shares of NNN REIT stock opened at $42.36 on Monday. The business has a 50-day moving average of $40.52 and a 200 day moving average of $43.46. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. NNN REIT, Inc. has a 12 month low of $37.55 and a 12 month high of $49.57.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.48%. The ex-dividend date was Friday, January 31st. NNN REIT’s payout ratio is presently 107.91%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NNN. Janney Montgomery Scott downgraded NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Wednesday, January 15th. Royal Bank of Canada cut their price objective on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 12th. Jefferies Financial Group downgraded NNN REIT from a “buy” rating to a “hold” rating and cut their price objective for the stock from $52.00 to $43.00 in a research report on Thursday, January 2nd. Morgan Stanley raised NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Wednesday, January 15th. Finally, B. Riley reissued a “neutral” rating and set a $43.00 price objective (down from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, NNN REIT currently has an average rating of “Hold” and an average price target of $44.54.

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.