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

Shares of NNN REIT, Inc. (NYSE:NNN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

NNN has been the topic of a number of recent analyst reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price target (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. StockNews.com upgraded shares of NNN REIT from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. UBS Group lifted their target price on NNN REIT from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their price target on NNN REIT from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, Raymond James boosted their price objective 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. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.33.

NNN REIT Trading Down 0.2 %

The stock has a fifty day simple moving average of $47.68 and a 200 day simple moving average of $44.49. The firm has a market capitalization of $8.86 billion, a P/E ratio of 22.17, a PEG ratio of 3.79 and a beta of 1.09. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

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

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.80%. NNN REIT’s dividend payout ratio is presently 106.42%.

Insider Buying and Selling at NNN REIT

In related news, EVP Michelle Lynn Miller sold 4,000 shares of NNN REIT stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total transaction of $187,520.00. Following the completion of the sale, the executive vice president now owns 69,756 shares in the company, valued at $3,270,161.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NNN REIT

Institutional investors and hedge funds have recently bought and sold shares of the company. Sound Income Strategies LLC grew its position in shares of NNN REIT by 19.0% during 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. GAMMA Investing LLC grew its holdings in NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 553 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock valued at $2,531,000 after purchasing an additional 15,100 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of NNN REIT by 32.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 1,414 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of NNN REIT by 4.1% during the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust’s stock valued at $4,420,000 after purchasing an additional 4,088 shares in the last quarter. 89.96% of the stock is owned by 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.