Goodman Financial Corp Increases Stock Position in NNN REIT, Inc. (NYSE:NNN)

Goodman Financial Corp lifted its position in shares of NNN REIT, Inc. (NYSE:NNN) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,061 shares of the real estate investment trust’s stock after buying an additional 3,388 shares during the period. NNN REIT makes up about 3.1% of Goodman Financial Corp’s holdings, making the stock its 14th biggest holding. Goodman Financial Corp owned 0.15% of NNN REIT worth $14,065,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC lifted its position in NNN REIT by 451.3% during the second quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust’s stock valued at $11,285,000 after buying an additional 216,855 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of NNN REIT by 17.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock valued at $9,134,000 after acquiring an additional 28,476 shares in the last quarter. Handelsbanken Fonder AB boosted its position in NNN REIT by 40.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after purchasing an additional 15,100 shares during the period. Pathway Financial Advisers LLC acquired a new stake in NNN REIT in the 1st quarter valued at $184,000. Finally, Strengthening Families & Communities LLC increased its holdings in NNN REIT by 7.1% in the 3rd quarter. Strengthening Families & Communities LLC now owns 63,238 shares of the real estate investment trust’s stock valued at $3,066,000 after purchasing an additional 4,170 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

NNN REIT Stock Down 0.7 %

Shares of NYSE:NNN opened at $43.39 on Tuesday. NNN REIT, Inc. has a 12-month low of $38.88 and a 12-month high of $49.57. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.00. The firm has a market cap of $8.14 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The company has a fifty day simple moving average of $46.12 and a 200 day simple moving average of $44.97.

NNN REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.58 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.35%. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NNN. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. Royal Bank of Canada decreased their price target on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Colliers Securities lowered shares of NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. B. Riley boosted their target price on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group lowered their price target on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.29.

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.