NNN REIT, Inc (NYSE:NNN) Shares Bought by Advisor Group Holdings Inc.

Posted by Defense World Staff on May 29th, 2023

Advisor Group Holdings Inc. increased its position in NNN REIT, Inc (NYSE:NNN – Get Rating) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,385 shares of the real estate investment trust’s stock after buying an additional 5,478 shares during the quarter. Advisor Group Holdings Inc. owned about 0.12% of NNN REIT worth $10,223,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in NNN REIT by 4.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,710 shares of the real estate investment trust’s stock valued at $3,831,000 after acquiring an additional 3,445 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in NNN REIT by 0.6% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 49,783 shares of the real estate investment trust’s stock valued at $1,984,000 after purchasing an additional 294 shares during the last quarter. Strengthening Families & Communities LLC boosted its holdings in NNN REIT by 2.1% during the fourth quarter. Strengthening Families & Communities LLC now owns 42,910 shares of the real estate investment trust’s stock worth $1,963,000 after buying an additional 902 shares in the last quarter. Commonwealth Equity Services LLC grew its position in NNN REIT by 2.0% in the third quarter. Commonwealth Equity Services LLC now owns 127,239 shares of the real estate investment trust’s stock worth $5,071,000 after buying an additional 2,437 shares during the last quarter. Finally, Freedom Day Solutions LLC bought a new position in shares of NNN REIT in the fourth quarter valued at $270,000. Institutional investors and hedge funds own 87.64% of the company’s stock.

NNN REIT Stock Performance

NNN stock opened at $42.08 on Monday. The firm has a 50 day moving average of $43.11 and a two-hundred day moving average of $44.97. NNN REIT, Inc has a 12 month low of $38.05 and a 12 month high of $48.42. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 4.40 and a beta of 0.91. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.96.

NNN REIT (NYSE:NNN – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. NNN REIT had a net margin of 43.64% and a return on equity of 8.49%. The business had revenue of $204.11 million during the quarter, compared to analyst estimates of $200.10 million. During the same quarter in the previous year, the business earned $0.79 EPS. NNN REIT’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that NNN REIT, Inc will post 3.19 EPS for the current fiscal year.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Thursday, April 27th. NNN REIT’s payout ratio is 114.58%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NNN shares. B. Riley decreased their target price on NNN REIT from $53.00 to $50.00 in a report on Wednesday, May 3rd. StockNews.com initiated coverage on NNN REIT in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Raymond James decreased their target price on shares of NNN REIT from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. Finally, Citigroup boosted their price target on shares of NNN REIT from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.00.

NNN REIT Company Profile

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NNN REIT, Inc is a real estate investment trust, which engages in investing in properties subject to long-term net leases. It acquires, owns, invests in, and develops properties that are leased to retail tenants under long-term net leases and held for investment. The company was founded on August 8, 1984, and is headquartered in Orlando, FL.