Graypoint LLC Takes $450,000 Position in NNN REIT, Inc. (NYSE:NNN)

Graypoint LLC purchased a new stake in NNN REIT, Inc. (NYSE:NNN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,560 shares of the real estate investment trust's stock, valued at approximately $450,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cibc World Markets Corp lifted its holdings in shares of NNN REIT by 12.4% during the 4th quarter. Cibc World Markets Corp now owns 54,572 shares of the real estate investment trust's stock worth $2,229,000 after acquiring an additional 6,035 shares during the period. Goodman Financial Corp lifted its holdings in shares of NNN REIT by 3.1% during the 4th quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust's stock worth $12,219,000 after acquiring an additional 9,054 shares during the period. Millstone Evans Group LLC bought a new stake in shares of NNN REIT during the 4th quarter worth approximately $42,000. Pinebridge Investments L.P. lifted its holdings in shares of NNN REIT by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 49,642 shares of the real estate investment trust's stock worth $2,028,000 after acquiring an additional 14,850 shares during the period. Finally, Tudor Investment Corp ET AL bought a new stake in shares of NNN REIT during the 4th quarter worth approximately $593,000. Institutional investors and hedge funds own 89.96% of the company's stock.

NNN REIT Price Performance

Shares of NYSE NNN remained flat at $42.74 during trading on Friday. The stock had a trading volume of 734,032 shares, compared to its average volume of 1,214,437. The firm has a 50-day moving average of $42.34 and a 200-day moving average of $41.32. NNN REIT, Inc. has a 1 year low of $35.80 and a 1 year high of $49.57. The stock has a market cap of $8.03 billion, a PE ratio of 19.97, a P/E/G ratio of 4.01 and a beta of 0.92. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.58 and a quick ratio of 0.58.

NNN REIT (NYSE:NNN - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The business had revenue of $230.85 million for the quarter, compared to analysts' expectations of $219.68 million. During the same period in the prior year, the company posted $0.84 EPS. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts expect that NNN REIT, Inc. will post 3.33 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, July 31st. This represents a $2.40 annualized dividend and a dividend yield of 5.62%. This is a boost from NNN REIT's previous quarterly dividend of $0.58. NNN REIT's dividend payout ratio (DPR) is 108.41%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI increased their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. UBS Group decreased their price objective on NNN REIT from $43.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Barclays cut their target price on NNN REIT from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.