NNN REIT, Inc. (NYSE:NNN) Shares Acquired by Goodman Financial Corp

Goodman Financial Corp boosted its holdings in NNN REIT, Inc. (NYSE:NNN) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,061 shares of the real estate investment trust’s stock after purchasing an additional 3,388 shares during the quarter. NNN REIT makes up about 3.1% of Goodman Financial Corp’s investment portfolio, making the stock its 14th largest holding. Goodman Financial Corp’s holdings in NNN REIT were worth $14,065,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of NNN REIT during the 1st quarter worth approximately $34,000. Bruce G. Allen Investments LLC increased its position in NNN REIT by 1,276.8% in the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,047 shares during the period. Versant Capital Management Inc bought a new stake in NNN REIT in the second quarter valued at $59,000. GAMMA Investing LLC boosted its holdings in shares of NNN REIT by 93.2% during the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,123 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of NNN REIT by 14.1% during the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 280 shares during the period. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Performance

Shares of NYSE NNN opened at $43.39 on Tuesday. NNN REIT, Inc. has a 1 year low of $38.88 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85. The stock has a fifty day moving average price of $46.12 and a two-hundred day moving average price of $44.97. The firm has a market cap of $8.14 billion, a P/E ratio of 20.25, a PEG ratio of 2.21 and a beta of 1.10.

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT’s payout ratio is currently 107.41%.

Wall Street Analyst Weigh In

NNN has been the topic of several recent research reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. UBS Group reduced their price objective on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Raymond James raised their target price on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. Finally, BNP Paribas lowered NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target on the stock. in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.29.

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.