NNN REIT, Inc. (NYSE:NNN) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in NNN REIT, Inc. (NYSE:NNN) by 68.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 59,608 shares of the real estate investment trust’s stock after selling 128,761 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in NNN REIT were worth $2,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of NNN. Lindbrook Capital LLC boosted its stake in NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 305 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of NNN REIT by 882.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 4,449 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of NNN REIT during the fourth quarter worth about $206,000. DGS Capital Management LLC boosted its stake in shares of NNN REIT by 9.5% during the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 461 shares during the period. Finally, Steph & Co. boosted its stake in shares of NNN REIT by 8.2% during the fourth quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 429 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Trading Down 1.4 %

Shares of NNN REIT stock opened at $41.65 on Thursday. NNN REIT, Inc. has a 12-month low of $37.55 and a 12-month high of $49.57. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The stock has a market cap of $7.81 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. The company has a 50-day moving average of $40.70 and a two-hundred day moving average of $43.39.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.58 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.57%. NNN REIT’s dividend payout ratio (DPR) is presently 107.91%.

Wall Street Analyst Weigh In

NNN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of NNN REIT in a research note on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price for the company. Evercore ISI initiated 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. Wells Fargo & Company increased their target price on shares of NNN REIT from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Royal Bank of Canada decreased their target price on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 12th. Finally, B. Riley reissued a “neutral” rating and set a $43.00 price target (down from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.54.

NNN REIT 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.