SG Americas Securities LLC Decreases Stock Holdings in NNN REIT, Inc. $NNN

SG Americas Securities LLC cut its stake in NNN REIT, Inc. (NYSE:NNN - Free Report) by 50.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,111 shares of the real estate investment trust's stock after selling 10,417 shares during the period. SG Americas Securities LLC's holdings in NNN REIT were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NNN. Chung Wu Investment Group LLC purchased a new stake in shares of NNN REIT during the 2nd quarter worth approximately $30,000. Brooklyn Investment Group raised its holdings in NNN REIT by 140.8% during the first quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 469 shares during the last quarter. Strengthening Families & Communities LLC raised its holdings in NNN REIT by 19.5% during the first quarter. Strengthening Families & Communities LLC now owns 2,283 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 372 shares during the last quarter. GAMMA Investing LLC boosted its position in NNN REIT by 56.5% during the second quarter. GAMMA Investing LLC now owns 3,600 shares of the real estate investment trust's stock worth $155,000 after purchasing an additional 1,299 shares in the last quarter. Finally, Fiduciary Alliance LLC acquired a new stake in NNN REIT in the second quarter valued at $203,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NNN has been the subject of several research reports. UBS Group lifted their price target on NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Barclays dropped their target price on shares of NNN REIT from $44.00 to $43.00 and set an "underweight" rating for the company in a report on Monday, October 20th. Wells Fargo & Company upped their price target on shares of NNN REIT from $43.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday. B. Riley reiterated a "neutral" rating and issued a $43.00 price target (down from $44.00) on shares of NNN REIT in a research report on Friday, November 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of NNN REIT in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, NNN REIT has a consensus rating of "Hold" and an average target price of $44.10.

View Our Latest Research Report on NNN

NNN REIT Stock Performance

Shares of NYSE NNN opened at $41.13 on Friday. The company has a 50-day simple moving average of $41.61 and a 200-day simple moving average of $42.08. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $7.81 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. NNN REIT, Inc. has a 12 month low of $35.80 and a 12 month high of $44.81.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. The business had revenue of $230.16 million for the quarter, compared to the consensus estimate of $228.45 million. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. NNN REIT has set its FY 2025 guidance at 3.360-3.400 EPS. On average, equities analysts anticipate that NNN REIT, Inc. will post 3.33 earnings per share for the current year.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.8%. NNN REIT's payout ratio is currently 115.38%.

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.

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