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

Amalgamated Bank lifted its stake in NNN REIT, Inc. (NYSE:NNN) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,960 shares of the real estate investment trust’s stock after purchasing an additional 1,521 shares during the quarter. Amalgamated Bank’s holdings in NNN REIT were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NNN. Farther Finance Advisors LLC increased its stake in NNN REIT by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 280 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of NNN REIT during the fourth quarter valued at approximately $206,000. DGS Capital Management LLC increased its position in shares of NNN REIT by 9.5% during the fourth quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $218,000 after acquiring an additional 461 shares in the last quarter. Steph & Co. raised its holdings in NNN REIT by 8.2% in the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 429 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in NNN REIT by 12.0% in the 4th quarter. Pathway Financial Advisers LLC now owns 12,840 shares of the real estate investment trust’s stock valued at $525,000 after acquiring an additional 1,374 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Performance

Shares of NYSE NNN opened at $42.48 on Friday. NNN REIT, Inc. has a 12-month low of $37.55 and a 12-month high of $49.57. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $40.11 and a 200 day moving average of $43.74.

NNN REIT Announces Dividend

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

Insider Transactions at NNN REIT

In related news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction on Tuesday, December 10th. The stock was 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 in the company, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NNN has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their target price on NNN REIT from $45.00 to $43.00 and set a “sector perform” rating for the company in a report on Wednesday, February 12th. B. Riley reiterated a “neutral” rating and issued a $43.00 price objective (down from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Robert W. Baird boosted their target price on NNN REIT from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Evercore ISI assumed coverage on shares of NNN REIT in a report on Friday, January 31st. They set an “inline” rating and a $42.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of NNN REIT in a report on Wednesday, December 11th. They set a “hold” rating and a $46.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.92.

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.