Sound Income Strategies LLC Buys 39,289 Shares of NNN REIT, Inc. (NYSE:NNN)

Sound Income Strategies LLC boosted its position in NNN REIT, Inc. (NYSE:NNN - Free Report) by 11.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 384,553 shares of the real estate investment trust's stock after purchasing an additional 39,289 shares during the quarter. Sound Income Strategies LLC owned about 0.20% of NNN REIT worth $16,401,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Goodman Financial Corp boosted its stake in NNN REIT by 3.1% in the 4th quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust's stock valued at $12,219,000 after purchasing an additional 9,054 shares during the period. GAMMA Investing LLC boosted its stake in NNN REIT by 3,301.7% in the 1st 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 during the period. Amalgamated Bank boosted its stake in NNN REIT by 1.7% in the 4th quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust's stock valued at $3,634,000 after purchasing an additional 1,521 shares during the period. Handelsbanken Fonder AB boosted its stake in NNN REIT by 6.5% in the 4th quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust's stock valued at $2,271,000 after purchasing an additional 3,400 shares during the period. Finally, Cibc World Markets Corp boosted its stake in NNN REIT by 12.4% in the 4th quarter. Cibc World Markets Corp now owns 54,572 shares of the real estate investment trust's stock valued at $2,229,000 after purchasing an additional 6,035 shares during the period. 89.96% of the stock is currently owned by institutional investors.

NNN REIT Stock Performance

NYSE:NNN opened at $42.41 on Friday. The stock has a fifty day moving average price of $41.26 and a 200-day moving average price of $41.11. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 2.06 and a beta of 0.92. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. NNN REIT, Inc. has a fifty-two week low of $35.80 and a fifty-two week high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. The business had revenue of $230.85 million during the quarter, compared to the consensus estimate of $219.68 million. During the same period in the prior year, the company earned $0.84 EPS. NNN REIT's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that NNN REIT, Inc. will post 3.33 EPS for the current fiscal year.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.32 annualized dividend and a dividend yield of 5.47%. NNN REIT's dividend payout ratio is currently 108.41%.

Wall Street Analysts Forecast Growth

NNN has been the subject of several recent research reports. Barclays reduced their price target 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. UBS Group reduced their price target on NNN REIT from $44.00 to $43.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. B. Riley restated a "neutral" rating and issued a $43.00 price target (down from $46.50) on shares of NNN REIT in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price target on 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NNN REIT has a consensus rating of "Hold" and an average target price of $44.46.

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.

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