Public Employees Retirement Association of Colorado recently trimmed its position in NNN REIT, Inc (NYSE:NNN) by 19.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm sold 5,450 shares during the quarter and owned 22,117 shares of the real estate investment trust’s stock. At present, Public Employees Retirement Association of Colorado’s holdings in NNN REIT are worth $1,012,000.
NNN REIT, Inc primarily invests in high-quality retail properties that are subject generally to long-term net leases. As of December 31st, 2022, the company owned around 3,411 properties in all forty-eight states with a gross leasable area of approximately 35 million square feet and with an average remaining lease term of 10.4 years.
During Friday’s trading session on June 11th, NYSE NNN shares opened at $43.28. The stock has a one-year low price of $38.05 and a one-year high price of $48.42. At present, NNN REIT has a debt-to-equity ratio of .96 and a current ratio and quick ratio of .62 each. The company’s fifty-day moving average price is currently at $43.21 while its two-hundred-day moving average price is at $44.80.
Taking into account these numbers also means noting that NNN REIT has a market capitalization rate totaling to $7.88 billion with a PE ratio rate standing still at roughly around 22.54 along with having a P/E/G ratio value holding steady as well at just about or close to approximately four point five-three times higher compared to beta which is only equal to .90.
Overall, despite recent trimming down by investors such as Public Employees Retirement Association of Colorado within NNN REIT’s ranks, the company still has a solid reputation in the market and continues to be sought-after for its portfolio of high-quality retail properties. Its overall market capitalization and financial ratios continue to reflect confidence among investors as well.
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NNN REIT Gains Institutional Investor Interest and Reports Strong Q1 Results
NNN REIT, a real estate investment trust based in the United States, has been making news lately as institutional investors modify their holdings of the company. Investors such as Neo Ivy Capital Management, Covestor Ltd, CENTRAL TRUST Co, Lazard Asset Management LLC and CI Investments Inc. have all recently acquired substantial positions in NNN REIT. As of June 11th, 2023, institutional investors and hedge funds own a staggering 87.64% stake in the company.
Equities research analysts have also released several reports on NNN REIT’s performance and outlook. While some have downgraded the stock’s price target from $53.00 to $50.00, others have given it an “outperform” rating and set a consensus target price of $49.00. Overall, the stock has been given a rating of “Moderate Buy.”
NNN REIT invests primarily in high-quality retail properties with long-term net leases across 48 states in the US, owning over 3,400 properties that span over 35 million square feet of gross leasable area as of December 31st, 2022. The company reported its earnings results for Q1 on May 2nd this year where it yielded an EPS of $0.82 which exceeded estimates by $0.03 while revenue was up by nearly 7%.
NNN REIT continues to provide value to its shareholders through its quarterly dividend program – it paid out a dividend of $0.55 per share on May 15th to investors who held shares as of April 28th this year.
Investors seem to be confident in NNN REIT’s future growth potential which is reflected through their recent investments into the company’s stocks despite some reports indicating mixed reviews on how the stocks will perform in the coming months and years ahead.