SG Americas Securities LLC Has $876,000 Stake in NNN REIT, Inc. (NYSE:NNN)

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

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position 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 worth $114,000 after acquiring an additional 546 shares in the last quarter. NBC Securities Inc. boosted its stake in NNN REIT by 104,000.0% in the 1st quarter. NBC Securities Inc. now owns 2,082 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 2,080 shares during the period. Red Spruce Capital LLC increased its holdings in NNN REIT by 10.3% during the 1st quarter. Red Spruce Capital LLC now owns 47,907 shares of the real estate investment trust's stock worth $2,043,000 after purchasing an additional 4,464 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of NNN REIT by 10.6% in the 1st 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. Finally, GAMMA Investing LLC lifted its holdings in shares of NNN REIT by 3,301.7% in the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock valued at $4,186,000 after purchasing an additional 95,253 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Stock Performance

NYSE:NNN traded up $0.27 during mid-day trading on Thursday, hitting $42.67. The stock had a trading volume of 761,129 shares, compared to its average volume of 1,190,022. NNN REIT, Inc. has a twelve month low of $35.80 and a twelve month 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 stock has a market cap of $8.02 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 3.96 and a beta of 0.92. The company's 50 day simple moving average is $41.48 and its 200 day simple moving average is $41.10.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. NNN REIT had a return on equity of 9.23% and a net margin of 45.09%. The company 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. On average, equities research analysts forecast that NNN REIT, Inc. will post 3.33 earnings per share for the current year.

NNN REIT Announces Dividend

The business 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. The ex-dividend date was Wednesday, April 30th. This represents a $2.32 annualized dividend and a dividend yield of 5.44%. NNN REIT's dividend payout ratio is currently 108.41%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group decreased their price objective on NNN REIT from $44.00 to $43.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. 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 report on Monday, March 10th. Finally, Barclays decreased their target price on shares of NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.46.

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.