Harbour Trust & Investment Management Co Sells 6,429 Shares of NNN REIT, Inc. (NYSE:NNN)

Harbour Trust & Investment Management Co lessened its holdings in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) by 22.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,708 shares of the real estate investment trust's stock after selling 6,429 shares during the quarter. Harbour Trust & Investment Management Co's holdings in NNN REIT were worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NNN. Jeppson Wealth Management LLC lifted its stake in shares of NNN REIT by 9.1% during the 1st quarter. Jeppson Wealth Management LLC now owns 25,602 shares of the real estate investment trust's stock valued at $1,092,000 after buying an additional 2,129 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in shares of NNN REIT during the 1st quarter valued at $57,000. Adams Asset Advisors LLC lifted its stake in shares of NNN REIT by 49.1% during the 1st quarter. Adams Asset Advisors LLC now owns 18,611 shares of the real estate investment trust's stock valued at $794,000 after buying an additional 6,130 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of NNN REIT by 11.4% during the 1st quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust's stock valued at $16,401,000 after buying an additional 39,289 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of NNN REIT by 25.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust's stock valued at $114,000 after buying an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

NNN REIT Price Performance

Shares of NNN REIT stock traded down $0.17 during trading hours on Friday, reaching $43.51. The company's stock had a trading volume of 866,390 shares, compared to its average volume of 1,205,999. The firm has a 50 day moving average price of $42.03 and a 200-day moving average price of $41.14. NNN REIT, Inc. has a one year low of $35.80 and a one year high of $49.57. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $8.18 billion, a P/E ratio of 20.33, a P/E/G ratio of 4.09 and a beta of 0.92.

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 for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The firm had revenue of $230.85 million for the quarter, compared to the consensus estimate of $219.68 million. During the same period in the previous year, the firm posted $0.84 EPS. The business's quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict 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. Stockholders of record on Wednesday, April 30th were issued a $0.58 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.33%. NNN REIT's dividend payout ratio (DPR) is presently 108.41%.

Analysts Set New Price Targets

NNN has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price 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. UBS Group reduced their price target on shares of NNN REIT from $44.00 to $43.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Evercore ISI lifted their price target on shares of NNN REIT from $43.00 to $44.00 and gave the company an "in-line" rating in a report on Wednesday. Finally, Barclays reduced their price target on shares of NNN REIT from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $44.62.

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.