NNN REIT (NYSE:NNN) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

NNN REIT, Inc. (NYSE:NNN)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $44.49 and traded as high as $48.90. NNN REIT shares last traded at $48.33, with a volume of 1,523,764 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NNN shares. B. Riley raised their price target on shares of NNN REIT from $42.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Raymond James lifted their price target on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Royal Bank of Canada upped their price objective on shares of NNN REIT from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Finally, UBS Group lifted their target price on shares of NNN REIT from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.33.

NNN REIT Trading Down 2.2 %

The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average price is $47.78 and its 200 day moving average price is $44.54. The stock has a market cap of $8.54 billion, a P/E ratio of 21.37, a PEG ratio of 3.79 and a beta of 1.09.

NNN REIT (NYSE:NNN) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.58 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The business had revenue of $216.81 million for the quarter, compared to the consensus estimate of $212.30 million. During the same period in the previous year, the firm earned $0.80 EPS. The company’s revenue was up 7.0% on a year-over-year basis. Equities research analysts expect that NNN REIT, Inc. will post 3.3 earnings per share for the current year.

NNN REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Thursday, October 31st. NNN REIT’s payout ratio is 106.42%.

Insider Transactions at NNN REIT

In related news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the transaction, the executive vice president now owns 69,756 shares in the company, valued at $3,270,161.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Trading of NNN REIT

Several institutional investors have recently added to or reduced their stakes in NNN. SG Americas Securities LLC raised its stake in shares of NNN REIT by 95.5% in the first quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust’s stock worth $2,724,000 after purchasing an additional 31,141 shares during the last quarter. Sound Income Strategies LLC increased its holdings in NNN REIT by 19.0% in the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after buying an additional 50,213 shares in the last quarter. Raymond James Trust N.A. raised its position in NNN REIT by 19.6% in the 2nd quarter. Raymond James Trust N.A. now owns 12,920 shares of the real estate investment trust’s stock worth $550,000 after buying an additional 2,120 shares during the last quarter. GAMMA Investing LLC lifted its stake in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,123 shares during the period. Finally, DGS Capital Management LLC purchased a new stake in shares of NNN REIT during the 1st quarter valued at about $212,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.