SG Americas Securities LLC Sells 70,766 Shares of NNN REIT, Inc. (NYSE:NNN)

SG Americas Securities LLC cut its holdings in NNN REIT, Inc. (NYSE:NNN - Free Report) by 77.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,528 shares of the real estate investment trust's stock after selling 70,766 shares during the period. SG Americas Securities LLC's holdings in NNN REIT were worth $876,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NNN. Lindbrook Capital LLC lifted 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 worth $41,000 after acquiring an additional 305 shares during the last quarter. Farther Finance Advisors LLC grew its holdings 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 last quarter. Parallel Advisors LLC raised its position in shares of NNN REIT by 10.6% during the 1st quarter. Parallel Advisors LLC now owns 6,566 shares of the real estate investment trust's stock worth $280,000 after purchasing an additional 628 shares during the period. Putney Financial Group LLC bought a new stake in shares of NNN REIT in the 4th quarter worth approximately $38,000. Finally, Millstone Evans Group LLC bought a new stake in shares of NNN REIT in the 4th quarter worth approximately $42,000. 89.96% of the stock is owned by institutional investors and hedge funds.

NNN REIT Price Performance

NNN REIT stock traded down $0.22 during trading hours on Friday, hitting $42.48. 1,395,781 shares of the company traded hands, compared to its average volume of 1,190,356. NNN REIT, Inc. has a 1-year low of $35.80 and a 1-year high of $49.57. The firm has a market cap of $7.98 billion, a P/E ratio of 19.85, a P/E/G ratio of 3.97 and a beta of 0.92. The firm's 50-day simple moving average is $41.61 and its two-hundred day simple moving average is $41.07. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.03.

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 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $219.68 million. During the same period last year, the firm posted $0.84 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. As a group, analysts forecast that NNN REIT, Inc. will post 3.33 earnings per share for the current fiscal year.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.58 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.32 annualized dividend and a yield of 5.46%. NNN REIT's dividend payout ratio (DPR) is presently 108.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays lowered their price objective on NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company upped their price target on shares of NNN REIT from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, 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 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.com, the company has a consensus rating of "Hold" and a consensus price target of $44.46.

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.