Infrastructure Capital Advisors LLC grew its holdings in shares of NNN REIT, Inc. (NYSE:NNN – Free Report) by 284.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,510 shares of the real estate investment trust’s stock after purchasing an additional 20,346 shares during the period. Infrastructure Capital Advisors LLC’s holdings in NNN REIT were worth $1,215,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fortis Capital Advisors LLC purchased a new stake in NNN REIT during the fourth quarter worth about $30,000. HBC Financial Services PLLC purchased a new stake in NNN REIT during the first quarter worth about $39,000. Altshuler Shaham Ltd purchased a new stake in NNN REIT during the first quarter worth about $41,000. Resurgent Financial Advisors LLC purchased a new stake in NNN REIT during the fourth quarter worth about $41,000. Finally, Quintet Private Bank Europe S.A. purchased a new stake in NNN REIT during the first quarter worth about $53,000. 88.39% of the stock is currently owned by hedge funds and other institutional investors.
NNN REIT Stock Performance
Shares of NNN opened at $38.05 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.98. The firm has a market cap of $6.94 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 3.98 and a beta of 0.89. The company’s 50 day simple moving average is $41.07 and its 200-day simple moving average is $42.51. NNN REIT, Inc. has a 12-month low of $38.03 and a 12-month high of $48.21.
NNN REIT Increases Dividend
Analysts Set New Price Targets
NNN has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on shares of NNN REIT from $46.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 3rd. Oppenheimer cut their target price on shares of NNN REIT from $54.00 to $49.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 8th. Janney Montgomery Scott upgraded shares of NNN REIT from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, June 28th. BNP Paribas assumed coverage on shares of NNN REIT in a research note on Wednesday, June 14th. They set an “underperform” rating and a $42.00 target price on the stock. Finally, StockNews.com assumed coverage on shares of NNN REIT in a research note on Thursday, August 17th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $47.00.
Check Out Our Latest Stock Analysis on NNN
NNN REIT Company Profile
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.
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