Harbour Trust & Investment Management Co Acquires New Position in NNN REIT, Inc. (NYSE:NNN)

Harbour Trust & Investment Management Co acquired a new position in NNN REIT, Inc. (NYSE:NNN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,913 shares of the real estate investment trust's stock, valued at approximately $1,634,000.

Several other large investors also recently made changes to their positions in NNN. US Bancorp DE increased its position in shares of NNN REIT by 40.7% in the first quarter. US Bancorp DE now owns 9,510 shares of the real estate investment trust's stock worth $427,000 after acquiring an additional 2,750 shares in the last quarter. HighTower Advisors LLC grew its holdings in NNN REIT by 12.2% during the 1st quarter. HighTower Advisors LLC now owns 14,199 shares of the real estate investment trust's stock valued at $639,000 after purchasing an additional 1,541 shares in the last quarter. Private Advisor Group LLC grew its holdings in NNN REIT by 22.4% during the 1st quarter. Private Advisor Group LLC now owns 6,748 shares of the real estate investment trust's stock valued at $303,000 after purchasing an additional 1,235 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in NNN REIT by 5.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 240,488 shares of the real estate investment trust's stock valued at $11,169,000 after purchasing an additional 12,236 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in NNN REIT by 38.7% during the 1st quarter. Raymond James Trust N.A. now owns 10,910 shares of the real estate investment trust's stock valued at $490,000 after purchasing an additional 3,045 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

NNN REIT Stock Up 1.5 %

NNN traded up $0.63 during trading hours on Tuesday, reaching $42.65. 618,342 shares of the stock traded hands, compared to its average volume of 1,454,202. The firm's fifty day simple moving average is $41.36 and its two-hundred day simple moving average is $40.14. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 4.83 and a beta of 1.00. NNN REIT, Inc. has a fifty-two week low of $34.38 and a fifty-two week high of $44.96. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.26 and a quick ratio of 1.26.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were issued a dividend of $0.565 per share. This represents a $2.26 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Tuesday, January 30th. NNN REIT's payout ratio is 104.63%.

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.