Amalgamated Bank Acquires 1,521 Shares of NNN REIT, Inc. (NYSE:NNN)

Amalgamated Bank lifted its holdings in shares of NNN REIT, Inc. (NYSE:NNN) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 88,960 shares of the real estate investment trust’s stock after purchasing an additional 1,521 shares during the period. Amalgamated Bank’s holdings in NNN REIT were worth $3,634,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of NNN REIT by 3,469.0% during the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust’s stock valued at $3,729,000 after buying an additional 88,736 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in NNN REIT by 9.6% during the 4th quarter. Sound Income Strategies LLC now owns 345,264 shares of the real estate investment trust’s stock valued at $14,104,000 after acquiring an additional 30,146 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in NNN REIT by 17.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after acquiring an additional 28,476 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in NNN REIT in the 4th quarter worth approximately $527,000. Finally, Red Spruce Capital LLC lifted its position in NNN REIT by 16.9% in the fourth quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock valued at $1,775,000 after purchasing an additional 6,289 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Up 0.8 %

Shares of NYSE:NNN opened at $42.48 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. NNN REIT, Inc. has a 52-week low of $37.55 and a 52-week high of $49.57. The firm has a market capitalization of $7.97 billion, a P/E ratio of 19.76, a P/E/G ratio of 2.06 and a beta of 1.11. The stock has a 50 day moving average price of $40.11 and a 200-day moving average price of $43.74.

NNN REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s dividend payout ratio is currently 107.91%.

Insider Activity

In other NNN REIT news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NNN shares. Janney Montgomery Scott cut shares of NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Wednesday, January 15th. Robert W. Baird raised their price target on shares of NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of NNN REIT in a research report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective on the stock. UBS Group dropped their target price on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Morgan Stanley upgraded NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.92.

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.