Tudor Investment Corp ET AL Makes New $593,000 Investment in NNN REIT, Inc. (NYSE:NNN)

Tudor Investment Corp ET AL purchased a new stake in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,523 shares of the real estate investment trust's stock, valued at approximately $593,000.

A number of other large investors have also recently bought and sold shares of the business. Sound Income Strategies LLC raised its stake in shares of NNN REIT by 9.6% in 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 acquiring an additional 30,146 shares in the last quarter. Goodman Financial Corp grew its holdings 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. SG Americas Securities LLC grew its stake in shares of NNN REIT by 3,469.0% in 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 acquiring an additional 88,736 shares during the last quarter. Amalgamated Bank boosted its holdings in NNN REIT by 1.7% in the 4th quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust's stock valued at $3,634,000 after purchasing an additional 1,521 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of NNN REIT by 6.5% during the 4th quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust's stock worth $2,271,000 after purchasing an additional 3,400 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NNN shares. Barclays boosted their price target on NNN REIT from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Wells Fargo & Company raised their target price on NNN REIT from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. 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 price target on the stock. Royal Bank of Canada dropped their price objective 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 reaffirmed a "neutral" rating and set a $43.00 price objective (down from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, NNN REIT presently has a consensus rating of "Hold" and a consensus price target of $44.54.

NNN REIT Price Performance

Shares of NNN traded down $0.57 on Tuesday, hitting $40.93. The company's stock had a trading volume of 197,582 shares, compared to its average volume of 1,171,723. The company has a market capitalization of $7.69 billion, a PE ratio of 19.04, a PEG ratio of 2.06 and a beta of 0.92. NNN REIT, Inc. has a fifty-two week low of $35.80 and a fifty-two week high of $49.57. The company has a 50 day moving average price of $41.31 and a 200 day moving average price of $41.40. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. The company had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. On average, research analysts anticipate that NNN REIT, Inc. will post 3.33 earnings per share for the current fiscal year.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.67%. The ex-dividend date is Wednesday, April 30th. NNN REIT's payout ratio is presently 108.41%.

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.