GAMMA Investing LLC Acquires 553 Shares of NNN REIT, Inc. (NYSE:NNN)

GAMMA Investing LLC increased its holdings in NNN REIT, Inc. (NYSE:NNN) by 23.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,881 shares of the real estate investment trust’s stock after purchasing an additional 553 shares during the period. GAMMA Investing LLC’s holdings in NNN REIT were worth $140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its position in shares of NNN REIT by 96,000.0% during the first quarter. Sound Income Strategies LLC now owns 48,050 shares of the real estate investment trust’s stock worth $2,054,000 after acquiring an additional 48,000 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of NNN REIT by 95.5% in the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock worth $2,724,000 after purchasing an additional 31,141 shares during the last quarter. Steph & Co. purchased a new stake in shares of NNN REIT in the first quarter worth about $170,000. Raymond James Trust N.A. boosted its stake in NNN REIT by 19.6% during the second quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 2,120 shares during the last quarter. Finally, DGS Capital Management LLC purchased a new position in NNN REIT during the 1st quarter valued at approximately $212,000. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the sale, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at $3,270,161.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NNN has been the topic of several recent research reports. B. Riley upped their price objective on NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of NNN REIT from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company restated an “equal weight” rating and issued a $50.00 target price (up from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Royal Bank of Canada increased their price target on shares of NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, UBS Group boosted their price objective on NNN REIT from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.83.

NNN REIT Stock Performance

Shares of NYSE:NNN opened at $47.49 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.79 and a beta of 1.09. NNN REIT, Inc. has a 12 month low of $34.61 and a 12 month high of $49.10. The firm’s 50-day moving average is $47.33 and its 200 day moving average is $44.14.

NNN REIT (NYSE:NNN) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The business had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $212.30 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts predict that NNN REIT, Inc. will post 3.3 EPS for the current year.

NNN REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.58 dividend. The ex-dividend date was Wednesday, July 31st. This is a boost from NNN REIT’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.89%. NNN REIT’s dividend payout ratio is presently 104.50%.

About NNN REIT

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.