NNN REIT, Inc. $NNN Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in shares of NNN REIT, Inc. (NYSE:NNN) by 25.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,100 shares of the real estate investment trust’s stock after purchasing an additional 13,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in NNN REIT were worth $2,856,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Quent Capital LLC purchased a new position in shares of NNN REIT in the 3rd quarter valued at about $51,000. Rothschild Investment LLC raised its holdings in NNN REIT by 1,066.9% in the third quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust’s stock valued at $182,000 after acquiring an additional 3,905 shares in the last quarter. Bayforest Capital Ltd raised its holdings in NNN REIT by 705.2% in the third quarter. Bayforest Capital Ltd now owns 4,525 shares of the real estate investment trust’s stock valued at $193,000 after acquiring an additional 3,963 shares in the last quarter. Transcend Capital Advisors LLC purchased a new position in NNN REIT in the third quarter worth approximately $221,000. Finally, EverSource Wealth Advisors LLC grew its holdings in NNN REIT by 266.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,540 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 4,030 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NNN. Stifel Nicolaus set a $48.50 price objective on shares of NNN REIT in a report on Wednesday, February 11th. BNP Paribas Exane raised 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NNN REIT in a report on Thursday, January 22nd. Wells Fargo & Company upped their price objective on NNN REIT from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Finally, Robert W. Baird set a $46.00 target price on NNN REIT in a research report on Thursday, February 12th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $44.61.

NNN REIT Price Performance

Shares of NYSE:NNN opened at $45.46 on Wednesday. NNN REIT, Inc. has a 12 month low of $35.80 and a 12 month high of $46.03. The firm has a market capitalization of $8.63 billion, a P/E ratio of 21.96, a P/E/G ratio of 3.37 and a beta of 0.83. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The company’s fifty day moving average price is $42.32 and its 200 day moving average price is $41.82.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.60 per share. The ex-dividend date was Friday, January 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.3%. NNN REIT’s payout ratio is 115.94%.

About NNN REIT

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.