SG Americas Securities LLC Sells 70,766 Shares of NNN REIT, Inc. (NYSE:NNN)

SG Americas Securities LLC lessened its position in NNN REIT, Inc. (NYSE:NNN) by 77.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,528 shares of the real estate investment trust’s stock after selling 70,766 shares during the period. SG Americas Securities LLC’s holdings in NNN REIT were worth $876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NNN. Goodman Financial Corp increased its holdings in NNN REIT by 3.1% during the fourth quarter. Goodman Financial Corp now owns 299,115 shares of the real estate investment trust’s stock valued at $12,219,000 after buying an additional 9,054 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of NNN REIT by 3,301.7% during the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust’s stock worth $4,186,000 after acquiring an additional 95,253 shares during the last quarter. Amalgamated Bank boosted its position in shares of NNN REIT by 1.7% during the fourth quarter. Amalgamated Bank now owns 88,960 shares of the real estate investment trust’s stock worth $3,634,000 after acquiring an additional 1,521 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of NNN REIT by 6.5% during the fourth quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust’s stock worth $2,271,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in NNN REIT by 12.4% during the fourth 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 last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Performance

Shares of NNN opened at $42.67 on Thursday. The company’s 50 day simple moving average is $41.48 and its 200-day simple moving average is $41.10. NNN REIT, Inc. has a 12-month low of $35.80 and a 12-month high of $49.57. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.03. The firm has a market cap of $8.02 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 3.96 and a beta of 0.92.

NNN REIT (NYSE:NNN) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The company had revenue of $230.85 million during the quarter, compared to the consensus estimate of $219.68 million. NNN REIT had a return on equity of 9.23% and a net margin of 45.09%. NNN REIT’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. As a group, equities analysts predict that NNN REIT, Inc. will post 3.33 EPS for the current year.

NNN REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Wednesday, April 30th. NNN REIT’s payout ratio is 108.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NNN shares. Barclays reduced their target price on shares of NNN REIT from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price target on shares of NNN REIT from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Finally, UBS Group cut their target price on shares of NNN REIT from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.46.

NNN REIT Company 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.