NNN REIT, Inc. (NYSE:NNN) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in NNN REIT, Inc. (NYSE:NNN) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,600 shares of the real estate investment trust’s stock after buying an additional 3,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in NNN REIT were worth $2,271,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its position in NNN REIT by 9.6% in the fourth quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock worth $14,104,000 after buying an additional 30,146 shares during the last quarter. Everence Capital Management Inc. acquired a new position in NNN REIT in the fourth quarter worth approximately $206,000. SG Americas Securities LLC boosted its stake in NNN REIT by 3,469.0% in 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 period. Kingswood Wealth Advisors LLC acquired a new position in NNN REIT in the 4th quarter worth approximately $527,000. Finally, Red Spruce Capital LLC boosted its stake in NNN REIT by 16.9% in 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 period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

NNN has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered shares of NNN REIT from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $52.00 to $43.00 in a research note on Thursday, January 2nd. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. BNP Paribas lowered shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a research note on Monday, November 4th. Robert W. Baird raised their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Evercore ISI assumed coverage on shares of NNN REIT in a research note on Friday, January 31st. They set an “inline” rating and a $42.00 target price for the company. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.92.

Insider Activity at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the sale, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is owned by company insiders.

NNN REIT Stock Up 1.4 %

NNN stock opened at $41.97 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. NNN REIT, Inc. has a 1 year low of $37.55 and a 1 year high of $49.57. The company has a fifty day simple moving average of $39.98 and a 200 day simple moving average of $43.81. The firm has a market cap of $7.87 billion, a PE ratio of 19.52, a PEG ratio of 2.06 and a beta of 1.11.

NNN REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s payout ratio is presently 107.91%.

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.