Sound Income Strategies LLC Acquires 34,852 Shares of NNN REIT, Inc. $NNN

Sound Income Strategies LLC lifted its position in shares of NNN REIT, Inc. (NYSE:NNN) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 469,045 shares of the real estate investment trust’s stock after purchasing an additional 34,852 shares during the period. Sound Income Strategies LLC’s holdings in NNN REIT were worth $20,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Quent Capital LLC bought a new position in shares of NNN REIT during the third quarter worth approximately $51,000. Ameriflex Group Inc. increased its stake in shares of NNN REIT by 1,266.1% during the third quarter. Ameriflex Group Inc. now owns 2,336 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 2,165 shares during the period. Rothschild Investment LLC increased its stake in shares of NNN REIT by 1,066.9% during the third quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 3,905 shares during the period. Bayforest Capital Ltd increased its stake in shares of NNN REIT by 705.2% during the third quarter. Bayforest Capital Ltd now owns 4,525 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 3,963 shares during the period. Finally, Hanson & Doremus Investment Management bought a new position in shares of NNN REIT during the fourth quarter worth approximately $187,000. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group increased their target price on NNN REIT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th. Stifel Nicolaus set a $48.50 target price on NNN REIT in a research note on Wednesday, February 11th. Raymond James Financial reiterated a “market perform” rating on shares of NNN REIT in a research note on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft upgraded NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday, January 20th. Finally, Evercore lowered their price objective 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. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, NNN REIT has a consensus rating of “Reduce” and a consensus price target of $44.83.

Insider Buying and Selling at NNN REIT

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

NNN REIT Trading Down 0.7%

Shares of NNN stock opened at $42.47 on Tuesday. The stock’s fifty day moving average price is $43.59 and its two-hundred day moving average price is $42.02. The company has a market cap of $8.08 billion, a PE ratio of 20.51, a P/E/G ratio of 5.61 and a beta of 0.85. NNN REIT, Inc. has a fifty-two week low of $35.80 and a fifty-two week high of $46.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.40 annualized dividend and a dividend yield of 5.7%. NNN REIT’s dividend payout ratio (DPR) is 115.94%.

NNN REIT Company 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.