Russell Investments Group Ltd. Sells 107,220 Shares of NNN REIT, Inc (NYSE:NNN)

Russell Investments Group Ltd. reduced its position in NNN REIT, Inc (NYSE:NNN – Get Rating) by 63.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,925 shares of the real estate investment trust’s stock after selling 107,220 shares during the quarter. Russell Investments Group Ltd.’s holdings in NNN REIT were worth $2,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. My Legacy Advisors LLC grew its stake in NNN REIT by 1.4% in the fourth quarter. My Legacy Advisors LLC now owns 16,012 shares of the real estate investment trust’s stock valued at $756,000 after purchasing an additional 217 shares during the last quarter. Signaturefd LLC grew its stake in NNN REIT by 7.2% in the fourth quarter. Signaturefd LLC now owns 3,318 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 223 shares during the last quarter. Romano Brothers AND Company grew its stake in shares of NNN REIT by 2.7% during the fourth quarter. Romano Brothers AND Company now owns 9,475 shares of the real estate investment trust’s stock worth $434,000 after acquiring an additional 250 shares during the last quarter. Securian Asset Management Inc. grew its stake in shares of NNN REIT by 1.6% during the fourth quarter. Securian Asset Management Inc. now owns 16,424 shares of the real estate investment trust’s stock worth $752,000 after acquiring an additional 252 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of NNN REIT by 1.4% during the fourth quarter. Toronto Dominion Bank now owns 19,048 shares of the real estate investment trust’s stock worth $871,000 after acquiring an additional 272 shares during the last quarter. 87.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NNN has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on NNN REIT from $49.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Raymond James decreased their target price on NNN REIT from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Citigroup increased their target price on NNN REIT from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. StockNews.com assumed coverage on NNN REIT in a report on Thursday. They issued a “hold” rating on the stock. Finally, B. Riley decreased their price objective on NNN REIT from $53.00 to $50.00 in a report on Wednesday, May 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, NNN REIT presently has an average rating of “Moderate Buy” and an average target price of $49.00.

NNN REIT Stock Down 0.5 %

Shares of NYSE:NNN opened at $42.86 on Friday. The business has a 50-day moving average price of $43.18 and a 200 day moving average price of $44.96. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 4.59 and a beta of 0.91. NNN REIT, Inc has a 12-month low of $38.05 and a 12-month high of $48.42.

NNN REIT (NYSE:NNN – Get Rating) last released its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. The company had revenue of $204.11 million during the quarter, compared to the consensus estimate of $200.10 million. NNN REIT had a return on equity of 8.49% and a net margin of 43.64%. NNN REIT’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. Sell-side analysts expect that NNN REIT, Inc will post 3.18 EPS for the current year.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 28th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend was Thursday, April 27th. NNN REIT’s payout ratio is presently 114.58%.

About NNN REIT

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NNN REIT, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984, and is headquartered in Orlando, FL.