4,295 Shares in NNN REIT, Inc. (NYSE:NNN) Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC bought a new position in shares of NNN REIT, Inc. (NYSE:NNN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,295 shares of the real estate investment trust’s stock, valued at approximately $184,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NNN. Cibc World Markets Corp acquired a new stake in shares of NNN REIT in the fourth quarter valued at approximately $2,625,000. Sound Income Strategies LLC increased its holdings in shares of NNN REIT by 96,000.0% in the first quarter. Sound Income Strategies LLC now owns 48,050 shares of the real estate investment trust’s stock valued at $2,054,000 after purchasing an additional 48,000 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of NNN REIT by 95.5% in the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock valued at $2,724,000 after purchasing an additional 31,141 shares during the last quarter. Harbour Trust & Investment Management Co acquired a new stake in NNN REIT during the fourth quarter worth $1,634,000. Finally, GAMMA Investing LLC acquired a new stake in NNN REIT during the fourth quarter worth $39,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. BNP Paribas raised NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 target price for the company in a research note on Thursday, May 2nd. Wells Fargo & Company cut their target price on NNN REIT from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. StockNews.com raised NNN REIT from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada raised their target price on NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, UBS Group raised their target price on NNN REIT from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.17.

NNN REIT Stock Up 1.3 %

NYSE:NNN traded up $0.59 during midday trading on Friday, reaching $46.57. The company had a trading volume of 1,749,478 shares, compared to its average volume of 1,070,686. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 3.63 and a beta of 1.07. The stock’s fifty day simple moving average is $43.23 and its 200-day simple moving average is $42.03. NNN REIT, Inc. has a 12-month low of $34.38 and a 12-month high of $46.78. The company has a current ratio of 1.72, a quick ratio of 0.52 and a debt-to-equity ratio of 1.04.

NNN REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 4.98%. NNN REIT’s dividend payout ratio (DPR) is 106.42%.

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.