Cornercap Investment Counsel Inc. Sells 658 Shares of NNN REIT, Inc. (NYSE:NNN)

Cornercap Investment Counsel Inc. reduced its stake in NNN REIT, Inc. (NYSE:NNN) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,298 shares of the real estate investment trust’s stock after selling 658 shares during the period. Cornercap Investment Counsel Inc.’s holdings in NNN REIT were worth $666,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in NNN REIT by 43.3% during the 4th 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. Millstone Evans Group LLC bought a new stake in shares of NNN REIT during the fourth quarter valued at approximately $42,000. DGS Capital Management LLC purchased a new position in NNN REIT in the 3rd quarter worth approximately $236,000. EverSource Wealth Advisors LLC boosted its stake in NNN REIT by 882.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 4,449 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of NNN REIT in the 4th quarter worth $206,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Up 0.1 %

Shares of NNN opened at $42.06 on Friday. The business’s 50 day simple moving average is $41.06 and its 200-day simple moving average is $43.08. NNN REIT, Inc. has a 1 year low of $37.55 and a 1 year high of $49.57. 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 $7.91 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10.

NNN REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.58 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.52%. NNN REIT’s payout ratio is currently 107.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NNN shares. Deutsche Bank Aktiengesellschaft began coverage on NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 price target on the stock. Evercore ISI started coverage on shares of NNN REIT in a report on Friday, January 31st. They set an “inline” rating and a $42.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of NNN REIT from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Royal Bank of Canada dropped 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 report on Wednesday, February 12th. Finally, B. Riley reiterated a “neutral” rating and set a $43.00 target price (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.54.

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.