Pathway Financial Advisers LLC Increases Holdings in NNN REIT, Inc. (NYSE:NNN)

Pathway Financial Advisers LLC lifted its holdings in NNN REIT, Inc. (NYSE:NNN) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,840 shares of the real estate investment trust’s stock after acquiring an additional 1,374 shares during the period. Pathway Financial Advisers LLC’s holdings in NNN REIT were worth $525,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Sound Income Strategies LLC grew 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 buying an additional 30,146 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of NNN REIT during the fourth quarter worth $206,000. SG Americas Securities LLC grew its stake in 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 acquiring an additional 88,736 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in NNN REIT in the 4th quarter valued at $527,000. Finally, Red Spruce Capital LLC increased its holdings in NNN REIT by 16.9% in 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 acquiring an additional 6,289 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Activity

In other 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 transaction, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NNN. BNP Paribas downgraded shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a report on Monday, November 4th. Janney Montgomery Scott lowered shares of NNN REIT from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Wednesday, January 15th. Royal Bank of Canada decreased their price target on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Jefferies Financial Group lowered shares of NNN REIT from a “buy” rating to a “hold” rating and lowered their price objective for the company from $52.00 to $43.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of NNN REIT in a report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.19.

NNN REIT Stock Performance

NNN REIT stock opened at $39.63 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85. The firm has a market capitalization of $7.43 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. NNN REIT, Inc. has a 1-year low of $37.55 and a 1-year high of $49.57. The company’s 50-day moving average is $40.23 and its 200 day moving average is $44.11.

NNN REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.85%. NNN REIT’s dividend payout ratio (DPR) is 107.41%.

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.