NNN REIT, Inc. (NYSE:NNN) Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co decreased its holdings in NNN REIT, Inc. (NYSE:NNN - Free Report) by 22.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 22,708 shares of the real estate investment trust's stock after selling 6,429 shares during the period. Harbour Trust & Investment Management Co's holdings in NNN REIT were worth $968,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Lindbrook Capital LLC raised its holdings 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 buying an additional 305 shares during the period. Farther Finance Advisors LLC raised its stake in shares of NNN REIT by 25.6% during the first quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 546 shares during the period. Parallel Advisors LLC raised its stake in shares of NNN REIT by 10.6% during the first quarter. Parallel Advisors LLC now owns 6,566 shares of the real estate investment trust's stock valued at $280,000 after purchasing an additional 628 shares during the period. Putney Financial Group LLC purchased a new stake in shares of NNN REIT during the fourth quarter valued at approximately $38,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of NNN REIT during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of NNN REIT from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. UBS Group dropped their price objective on shares of NNN REIT from $44.00 to $43.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Evercore ISI lifted 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. Finally, Wells Fargo & Company lifted their price objective on shares of NNN REIT from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. 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. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $44.62.

NNN REIT Stock Down 0.4%

Shares of NNN stock traded down $0.17 during mid-day trading on Thursday, reaching $43.51. 866,390 shares of the company were exchanged, compared to its average volume of 1,206,010. 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 debt-to-equity ratio of 1.03, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $8.18 billion, a P/E ratio of 20.33, a P/E/G ratio of 4.10 and a beta of 0.92. The business's 50 day simple moving average is $41.98 and its 200 day simple moving average is $41.12.

NNN REIT (NYSE:NNN - Get Free Report) last released 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. The firm had revenue of $230.85 million during the quarter, compared to the consensus estimate of $219.68 million. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 earnings per share. Research analysts predict that NNN REIT, Inc. will post 3.33 earnings per share for the current year.

NNN REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend was Wednesday, April 30th. NNN REIT's dividend payout ratio is presently 108.41%.

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.