Millstone Evans Group LLC Acquires Shares of 1,023 NNN REIT, Inc. (NYSE:NNN)

Millstone Evans Group LLC bought a new position in shares of NNN REIT, Inc. (NYSE:NNN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,023 shares of the real estate investment trust’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC boosted its stake in NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after purchasing an additional 30,146 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of NNN REIT during the fourth quarter valued at approximately $206,000. SG Americas Securities LLC grew its holdings in 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 worth $3,729,000 after buying an additional 88,736 shares in the last quarter. Goodman Financial Corp raised its position in NNN REIT by 3.1% in the 4th quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock valued at $12,219,000 after buying an additional 9,054 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in NNN REIT during the 4th quarter valued at $527,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Stock Performance

Shares of NNN opened at $41.50 on Tuesday. 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’s fifty day moving average price is $40.88 and its two-hundred day moving average price is $43.23. The firm has a market cap of $7.78 billion, a PE ratio of 19.30, a PEG ratio of 2.06 and a beta of 1.10.

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 paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s dividend payout ratio is currently 107.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NNN shares. B. Riley reiterated a “neutral” rating and issued a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective for the company in a research note on Wednesday, January 15th. Evercore ISI assumed coverage on NNN REIT in a research note on Friday, January 31st. They issued an “inline” rating and a $42.00 target price on the stock. Barclays increased their price target on NNN REIT from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and cut their price objective for the stock from $52.00 to $43.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.54.

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.