Lindbrook Capital LLC Purchases 305 Shares of NNN REIT, Inc. (NYSE:NNN)

Lindbrook Capital LLC increased its position in NNN REIT, Inc. (NYSE:NNN) by 43.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,010 shares of the real estate investment trust’s stock after purchasing an additional 305 shares during the quarter. Lindbrook Capital LLC’s holdings in NNN REIT were worth $41,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC lifted 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 purchasing an additional 30,146 shares during the period. Goodman Financial Corp lifted its holdings in shares of NNN REIT by 1.2% during the third quarter. Goodman Financial Corp now owns 290,061 shares of the real estate investment trust’s stock valued at $14,065,000 after acquiring an additional 3,388 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of NNN REIT by 17.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after acquiring an additional 28,476 shares during the period. SG Americas Securities LLC lifted its holdings in shares of NNN REIT by 3,469.0% during the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after acquiring an additional 88,736 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of NNN REIT by 1.7% during the fourth quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust’s stock valued at $3,634,000 after acquiring an additional 1,521 shares during the period. 89.96% of the stock is owned by institutional investors.

NNN REIT Price Performance

Shares of NNN stock opened at $42.80 on Friday. The stock has a 50-day moving average price of $40.33 and a 200 day moving average price of $43.63. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.00. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.06 and a beta of 1.10. NNN REIT, Inc. has a 12 month low of $37.55 and a 12 month high of $49.57.

NNN REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given 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 yield of 5.42%. NNN REIT’s payout ratio is 107.91%.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the transaction, the executive vice president now owns 68,756 shares in the company, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NNN shares. Barclays lifted their price objective on NNN REIT from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and cut their price objective for the company from $52.00 to $43.00 in a report on Thursday, January 2nd. Royal Bank of Canada cut their price objective on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating for the company in a report on Wednesday, February 12th. Janney Montgomery Scott lowered NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Wednesday, January 15th. Finally, UBS Group lowered their target price on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.00.

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.