GAMMA Investing LLC Makes New $39,000 Investment in NNN REIT, Inc. (NYSE:NNN)

GAMMA Investing LLC purchased a new position in NNN REIT, Inc. (NYSE:NNN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 965 shares of the real estate investment trust’s stock, valued at approximately $39,000.

Several other large investors also recently made changes to their positions in NNN. Goodman Financial Corp grew its stake in NNN REIT by 3.6% in the 3rd quarter. Goodman Financial Corp now owns 242,450 shares of the real estate investment trust’s stock valued at $8,568,000 after buying an additional 8,337 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of NNN REIT by 95.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 61,335 shares of the real estate investment trust’s stock worth $2,167,000 after purchasing an additional 30,011 shares during the last quarter. Harbour Trust & Investment Management Co bought a new stake in NNN REIT during the 4th quarter valued at approximately $1,634,000. Handelsbanken Fonder AB grew its holdings in NNN REIT by 13.7% in the 4th quarter. Handelsbanken Fonder AB now owns 29,800 shares of the real estate investment trust’s stock valued at $1,284,000 after buying an additional 3,600 shares during the last quarter. Finally, Jeppson Wealth Management LLC bought a new position in NNN REIT in the 4th quarter worth approximately $993,000. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BNP Paribas raised shares of NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price target for the company in a report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.50.

NNN REIT Trading Up 0.5 %

Shares of NNN opened at $41.80 on Friday. The stock has a 50 day simple moving average of $41.40 and a 200-day simple moving average of $40.74. NNN REIT, Inc. has a 1 year low of $34.38 and a 1 year high of $44.96. The stock has a market cap of $7.66 billion, a PE ratio of 19.17, a PEG ratio of 4.84 and a beta of 1.00. The company has a current ratio of 0.52, a quick ratio of 1.26 and a debt-to-equity ratio of 1.04.

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.565 dividend. This represents a $2.26 annualized dividend and a dividend yield of 5.41%. The ex-dividend date is Monday, April 29th. NNN REIT’s payout ratio is 103.67%.

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.