Kingswood Wealth Advisors LLC Takes $527,000 Position in NNN REIT, Inc. (NYSE:NNN)

Kingswood Wealth Advisors LLC purchased a new stake in shares of NNN REIT, Inc. (NYSE:NNN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,901 shares of the real estate investment trust’s stock, valued at approximately $527,000.

Several other institutional investors and hedge funds have also made changes to their positions in NNN. SG Americas Securities LLC boosted its holdings in NNN REIT by 3,469.0% in 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 purchasing an additional 88,736 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of NNN REIT by 19.0% during the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after acquiring an additional 50,213 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of NNN REIT by 17.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after purchasing an additional 28,476 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after purchasing an additional 15,100 shares during the period. Finally, Red Spruce Capital LLC lifted its position in shares of NNN REIT by 16.9% during the 4th quarter. Red Spruce Capital LLC now owns 43,443 shares of the real estate investment trust’s stock valued at $1,775,000 after buying an additional 6,289 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Price Performance

NNN stock opened at $39.41 on Thursday. The stock has a 50-day moving average price of $41.16 and a two-hundred day moving average price of $44.57. The company has a market cap of $7.39 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. NNN REIT, Inc. has a 12-month low of $37.55 and a 12-month high of $49.57.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.58 dividend. The ex-dividend date is Friday, January 31st. This represents a $2.32 annualized dividend and a yield of 5.89%. NNN REIT’s payout ratio is 107.41%.

Insiders Place Their Bets

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the sale, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NNN shares. Barclays began coverage on NNN REIT in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $48.00 price objective for the company. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a report on Friday, November 1st. Royal Bank of Canada decreased their price objective on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. BNP Paribas downgraded NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target on the stock. in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft initiated 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 for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, NNN REIT currently has an average rating of “Hold” and an average target price of $45.79.

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.