Cibc World Markets Corp Buys 6,035 Shares of NNN REIT, Inc. (NYSE:NNN)

Cibc World Markets Corp boosted its stake in NNN REIT, Inc. (NYSE:NNN) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,572 shares of the real estate investment trust’s stock after acquiring an additional 6,035 shares during the period. Cibc World Markets Corp’s holdings in NNN REIT were worth $2,229,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NNN. Lindbrook Capital LLC boosted its holdings in NNN REIT by 43.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 305 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of NNN REIT by 882.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,953 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 4,449 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of NNN REIT during the 4th quarter valued at $206,000. DGS Capital Management LLC boosted its holdings in shares of NNN REIT by 9.5% during the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 461 shares in the last quarter. Finally, Steph & Co. boosted its holdings in shares of NNN REIT by 8.2% during the 4th quarter. Steph & Co. now owns 5,664 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 429 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $41.59 on Friday. NNN REIT, Inc. has a fifty-two week low of $37.55 and a fifty-two week high of $49.57. The business has a 50-day simple moving average of $40.76 and a two-hundred day simple moving average of $43.37. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend was Friday, January 31st. NNN REIT’s dividend payout ratio (DPR) is 107.91%.

Analyst Ratings Changes

A number of analysts have recently commented on NNN shares. Morgan Stanley upgraded shares of NNN REIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a report on Wednesday, January 15th. Jefferies Financial Group cut shares of NNN REIT from a “buy” rating to a “hold” rating and dropped their target price for the company from $52.00 to $43.00 in a report on Thursday, January 2nd. Royal Bank of Canada dropped their target price on shares of NNN REIT from $45.00 to $43.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. B. Riley restated a “neutral” rating and set a $43.00 target price (down previously from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price target on shares of NNN REIT from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.54.

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.