GAMMA Investing LLC Buys 95,253 Shares of NNN REIT, Inc. (NYSE:NNN)

GAMMA Investing LLC grew its holdings in NNN REIT, Inc. (NYSE:NNN - Free Report) by 3,301.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 98,138 shares of the real estate investment trust's stock after purchasing an additional 95,253 shares during the period. GAMMA Investing LLC owned approximately 0.05% of NNN REIT worth $4,186,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Putney Financial Group LLC acquired a new stake in NNN REIT in the fourth quarter valued at about $38,000. Lindbrook Capital LLC boosted its stake in shares of NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 305 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of NNN REIT during the 4th quarter valued at approximately $42,000. Versant Capital Management Inc grew its holdings in shares of NNN REIT by 151.9% during the 1st quarter. Versant Capital Management Inc now owns 4,255 shares of the real estate investment trust's stock valued at $181,000 after purchasing an additional 2,566 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in NNN REIT by 882.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust's stock worth $202,000 after purchasing an additional 4,449 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NNN. Wells Fargo & Company boosted 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. Barclays reduced their price objective on NNN REIT from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Royal Bank of Canada dropped their target price on NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 12th. B. Riley reissued a "neutral" rating and set a $43.00 price target (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Finally, UBS Group cut their target price on shares of NNN REIT from $44.00 to $43.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One investment 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 price target of $44.46.

NNN REIT Trading Down 0.1%

Shares of NYSE NNN traded down $0.04 during midday trading on Thursday, reaching $42.43. The stock had a trading volume of 84,607 shares, compared to its average volume of 1,183,322. The company's 50 day moving average price is $41.08 and its 200 day moving average price is $41.15. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. NNN REIT, Inc. has a twelve month low of $35.80 and a twelve month high of $49.57. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92.

NNN REIT (NYSE:NNN - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. NNN REIT had a net margin of 45.65% and a return on equity of 9.28%. NNN REIT's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. As a group, sell-side analysts expect that NNN REIT, Inc. will post 3.33 EPS for the current year.

NNN REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.32 annualized dividend and a dividend yield of 5.47%. NNN REIT's payout ratio is 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.