Strengthening Families & Communities LLC Grows Stock Position in NNN REIT, Inc. (NYSE:NNN)

Strengthening Families & Communities LLC boosted its stake in NNN REIT, Inc. (NYSE:NNN) by 7.1% in the third quarter, Holdings Channel reports. The fund owned 63,238 shares of the real estate investment trust’s stock after buying an additional 4,170 shares during the quarter. Strengthening Families & Communities LLC’s holdings in NNN REIT were worth $3,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NNN. LRI Investments LLC purchased a new position in shares of NNN REIT during the 1st quarter valued at approximately $69,000. Pathway Financial Advisers LLC purchased a new position in shares of NNN REIT during the 1st quarter valued at approximately $184,000. GAMMA Investing LLC boosted its stake in shares of NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 1,123 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of NNN REIT during the 2nd quarter valued at approximately $59,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,047 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NNN shares. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. Wells Fargo & Company reiterated an “equal weight” rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. UBS Group lowered their target price on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday. Raymond James boosted their target price on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, BNP Paribas lowered shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price for the company. in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.29.

NNN REIT Stock Performance

Shares of NNN stock opened at $42.20 on Monday. 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 fifty-two week low of $38.49 and a fifty-two week high of $49.57. The stock’s 50-day moving average is $46.73 and its two-hundred day moving average is $44.91. The firm has a market cap of $7.91 billion, a P/E ratio of 19.54, a PEG ratio of 2.13 and a beta of 1.10.

NNN REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.58 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.50%. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

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.