LRI Investments LLC Buys Shares of 1,613 NNN REIT, Inc. (NYSE:NNN)

LRI Investments LLC acquired a new position in shares of NNN REIT, Inc. (NYSE:NNN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,613 shares of the real estate investment trust’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NNN. Goodman Financial Corp increased its holdings in NNN REIT by 3.1% in the fourth quarter. Goodman Financial Corp now owns 249,930 shares of the real estate investment trust’s stock worth $10,772,000 after buying an additional 7,480 shares during the last quarter. SG Americas Securities LLC raised its holdings in NNN REIT by 95.5% during the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock valued at $2,724,000 after buying an additional 31,141 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of NNN REIT in the fourth quarter worth about $2,625,000. Sound Income Strategies LLC boosted its stake in shares of NNN REIT by 96,000.0% during the 1st 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 in the last quarter. Finally, Harbour Trust & Investment Management Co acquired a new position in shares of NNN REIT during the 4th quarter valued at about $1,634,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Performance

NNN traded up $0.37 on Friday, hitting $45.52. 940,463 shares of the stock traded hands, compared to its average volume of 886,254. The business has a fifty day moving average price of $42.82 and a two-hundred day moving average price of $41.93. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.04. NNN REIT, Inc. has a 52 week low of $34.38 and a 52 week high of $46.75. The firm has a market capitalization of $8.35 billion, a PE ratio of 20.88, a P/E/G ratio of 3.59 and a beta of 1.07.

NNN REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.10%. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, July 31st. NNN REIT’s dividend payout ratio is presently 103.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NNN shares. StockNews.com lowered shares of NNN REIT from a “buy” rating to a “hold” rating in a research report on Thursday. BNP Paribas upgraded shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 target price on the stock in a report on Thursday, May 2nd. UBS Group boosted their target price on shares of NNN REIT from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company dropped their price objective on NNN REIT from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, NNN REIT presently has an average rating of “Hold” and an average 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.