Pinebridge Investments L.P. Has $2.03 Million Stock Holdings in NNN REIT, Inc. (NYSE:NNN)

Pinebridge Investments L.P. boosted its holdings in shares of NNN REIT, Inc. (NYSE:NNN - Free Report) by 42.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,642 shares of the real estate investment trust's stock after buying an additional 14,850 shares during the period. Pinebridge Investments L.P.'s holdings in NNN REIT were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Lindbrook Capital LLC boosted its position in NNN REIT by 43.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 305 shares during the last quarter. Millstone Evans Group LLC acquired a new position in NNN REIT in the fourth quarter worth approximately $42,000. DGS Capital Management LLC bought a new position in NNN REIT during the third quarter valued at approximately $236,000. EverSource Wealth Advisors LLC lifted its stake in NNN REIT by 882.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust's stock valued at $202,000 after acquiring an additional 4,449 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in NNN REIT in the fourth quarter worth approximately $206,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

NNN REIT Stock Performance

Shares of NYSE:NNN traded up $0.15 during trading on Thursday, hitting $41.26. 1,572,267 shares of the stock were exchanged, compared to its average volume of 1,180,870. The company's fifty day simple moving average is $41.43 and its 200-day simple moving average is $41.86. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. NNN REIT, Inc. has a 1-year low of $35.80 and a 1-year high of $49.57.

NNN REIT (NYSE:NNN - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. NNN REIT had a net margin of 45.65% and a return on equity of 9.28%. The business's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Sell-side analysts expect that NNN REIT, Inc. will post 3.33 EPS for the current fiscal year.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date is Wednesday, April 30th. NNN REIT's payout ratio is 107.91%.

Analyst Upgrades and Downgrades

Several research firms have commented on NNN. Morgan Stanley raised shares of NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 target price on the stock in a research report on Wednesday, January 15th. Janney Montgomery Scott downgraded NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 price objective on the stock. in a research note on Wednesday, January 15th. B. Riley reaffirmed a "neutral" rating and set a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. Evercore ISI initiated coverage on NNN REIT in a report on Friday, January 31st. They set an "inline" rating and a $42.00 price target on the stock. Finally, Jefferies Financial Group cut shares of NNN REIT from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $52.00 to $43.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, NNN REIT presently has a consensus rating of "Hold" and an average price target of $44.54.

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.