SG Americas Securities LLC Sells 42,476 Shares of NNN REIT, Inc. $NNN

SG Americas Securities LLC decreased its holdings in NNN REIT, Inc. (NYSE:NNN) by 58.7% during the 4th quarter, HoldingsChannel reports. The firm owned 29,934 shares of the real estate investment trust’s stock after selling 42,476 shares during the quarter. SG Americas Securities LLC’s holdings in NNN REIT were worth $1,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NNN. EverSource Wealth Advisors LLC increased its stake in shares of NNN REIT by 266.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,540 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 4,030 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of NNN REIT by 3.5% in the 2nd quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust’s stock valued at $4,977,000 after purchasing an additional 3,897 shares during the last quarter. Fiduciary Alliance LLC increased its stake in shares of NNN REIT by 21.0% in the 3rd quarter. Fiduciary Alliance LLC now owns 5,699 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 991 shares during the last quarter. Adams Asset Advisors LLC increased its stake in shares of NNN REIT by 5.8% in the 3rd quarter. Adams Asset Advisors LLC now owns 43,112 shares of the real estate investment trust’s stock valued at $1,835,000 after purchasing an additional 2,346 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of NNN REIT by 4.4% in the 3rd quarter. Sound Income Strategies LLC now owns 434,193 shares of the real estate investment trust’s stock valued at $18,219,000 after purchasing an additional 18,135 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NNN shares. Robert W. Baird set a $46.00 price target on NNN REIT in a research note on Thursday, February 12th. Evercore decreased their price target on NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. BNP Paribas Exane lifted their price target on NNN REIT from $43.00 to $44.00 and gave the company a “strong sell” rating in a research note on Thursday, February 12th. Raymond James Financial reiterated a “market perform” rating on shares of NNN REIT in a research note on Tuesday, March 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NNN REIT in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $44.83.

NNN REIT Trading Up 1.7%

NYSE NNN opened at $43.23 on Wednesday. The firm has a market capitalization of $8.23 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 5.61 and a beta of 0.85. The business’s 50-day moving average price is $43.61 and its two-hundred day moving average price is $42.03. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. NNN REIT, Inc. has a 12 month low of $35.80 and a 12 month high of $46.03.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.40 annualized dividend and a dividend yield of 5.6%. NNN REIT’s dividend payout ratio is presently 115.94%.

Insider Activity

In other news, CEO Stephen A. Horn, Jr. sold 33,192 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $44.98, for a total value of $1,492,976.16. Following the completion of the sale, the chief executive officer owned 822,711 shares of the company’s stock, valued at approximately $37,005,540.78. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Adamo sold 6,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $44.99, for a total value of $269,940.00. Following the completion of the sale, the executive vice president directly owned 126,358 shares of the company’s stock, valued at approximately $5,684,846.42. The trade was a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.82% of the company’s stock.

NNN REIT Profile

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.