GAMMA Investing LLC Makes New $39,000 Investment in NNN REIT, Inc. (NYSE:NNN)

GAMMA Investing LLC purchased a new stake in NNN REIT, Inc. (NYSE:NNN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 965 shares of the real estate investment trust’s stock, valued at approximately $39,000.

Several other hedge funds also recently modified their holdings of NNN. Lindbrook Capital LLC increased its holdings in NNN REIT by 77.0% in the 4th quarter. Lindbrook Capital LLC now owns 754 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 328 shares in the last quarter. NBC Securities Inc. bought a new position in NNN REIT in the 3rd quarter valued at approximately $81,000. Essex Financial Services Inc. boosted its position in NNN REIT by 12.8% during the 3rd quarter. Essex Financial Services Inc. now owns 11,675 shares of the real estate investment trust’s stock worth $413,000 after buying an additional 1,326 shares during the period. Nicholas Hoffman & Company LLC. bought a new stake in NNN REIT during the 3rd quarter worth approximately $488,000. Finally, Jeppson Wealth Management LLC acquired a new position in NNN REIT in the 4th quarter valued at approximately $993,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

NNN REIT Price Performance

NNN stock opened at $41.80 on Friday. The company has a quick ratio of 1.26, a current ratio of 0.52 and a debt-to-equity ratio of 1.04. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 4.84 and a beta of 1.00. The company’s fifty day simple moving average is $41.40 and its 200 day simple moving average is $40.74. NNN REIT, Inc. has a 12-month low of $34.38 and a 12-month high of $44.96.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.565 dividend. This represents a $2.26 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Monday, April 29th. NNN REIT’s dividend payout ratio is 103.67%.

Analysts Set New Price Targets

Separately, BNP Paribas raised shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price objective on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, NNN REIT has an average rating of “Hold” and a consensus target price of $44.50.

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.