Dimensional Fund Advisors LP Purchases 101,635 Shares of NNN REIT, Inc. (NYSE:NNN)

Posted by Defense World Staff on Sep 8th, 2023

Dimensional Fund Advisors LP grew its position in shares of NNN REIT, Inc. (NYSE:NNN – Free Report) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,532,650 shares of the real estate investment trust’s stock after acquiring an additional 101,635 shares during the quarter. Dimensional Fund Advisors LP’s holdings in NNN REIT were worth $111,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NNN. US Bancorp DE increased its holdings in shares of NNN REIT by 40.7% during the first quarter. US Bancorp DE now owns 9,510 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 2,750 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of NNN REIT by 12.2% during the first quarter. HighTower Advisors LLC now owns 14,199 shares of the real estate investment trust’s stock valued at $639,000 after acquiring an additional 1,541 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of NNN REIT by 22.4% during the first quarter. Private Advisor Group LLC now owns 6,748 shares of the real estate investment trust’s stock valued at $303,000 after acquiring an additional 1,235 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in NNN REIT by 5.4% during the first quarter. Great West Life Assurance Co. Can now owns 240,488 shares of the real estate investment trust’s stock worth $11,169,000 after buying an additional 12,236 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in NNN REIT by 38.7% during the first quarter. Raymond James Trust N.A. now owns 10,910 shares of the real estate investment trust’s stock worth $490,000 after buying an additional 3,045 shares in the last quarter. Institutional investors own 88.39% of the company’s stock.

NNN REIT Stock Down 0.2 %

NNN stock opened at $38.14 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 4.01 and a beta of 0.89. NNN REIT, Inc. has a fifty-two week low of $38.05 and a fifty-two week high of $48.21. The stock has a fifty day moving average of $41.17 and a 200-day moving average of $42.57.

NNN REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a dividend of $0.565 per share. This is an increase from NNN REIT’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 28th. This represents a $2.26 annualized dividend and a dividend yield of 5.93%. NNN REIT’s dividend payout ratio is presently 110.78%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NNN shares. Janney Montgomery Scott upgraded NNN REIT from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, June 28th. B. Riley decreased their price target on NNN REIT from $50.00 to $46.00 in a report on Tuesday, August 8th. Oppenheimer decreased their price target on NNN REIT from $54.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, August 8th. StockNews.com started coverage on NNN REIT in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reduced their price objective on NNN REIT from $46.00 to $45.00 and set a “sector perform” rating for the company in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, NNN REIT has a consensus rating of “Hold” and an average price target of $47.00.

Get Our Latest Report on NNN

NNN REIT Company Profile

(Free Report)

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of June 30, 2023, the company owned 3,479 properties in 49 states with a gross leasable area of approximately 35.5 million square feet and with a weighted average remaining lease term of 10.2 years.