NNN REIT (NYSE:NNN) Reaches New 1-Year Low - Here's What Happened

NNN REIT, Inc. (NYSE:NNN - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $37.21 and last traded at $37.51, with a volume of 3054466 shares trading hands. The stock had previously closed at $38.49.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 12th. Janney Montgomery Scott downgraded NNN REIT from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a report on Wednesday, January 15th. Wells Fargo & Company increased their price objective on NNN REIT from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Barclays raised their price objective on NNN REIT from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley upgraded NNN REIT from an "equal weight" rating to an "overweight" rating and set a $48.00 target price on the stock in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $44.54.

NNN REIT Stock Performance

The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. The firm's 50 day moving average is $41.13 and its 200-day moving average is $42.43. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55.

NNN REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.32 annualized dividend and a dividend yield of 5.85%. NNN REIT's dividend payout ratio (DPR) is presently 107.91%.

Institutional Investors Weigh In On NNN REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNN. Putney Financial Group LLC acquired a new position in NNN REIT during the fourth quarter valued at approximately $38,000. Lindbrook Capital LLC grew its stake in NNN REIT by 43.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,010 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 305 shares during the last quarter. Millstone Evans Group LLC acquired a new position in NNN REIT in the 4th quarter valued at $42,000. NBC Securities Inc. raised its holdings in NNN REIT by 104,000.0% in the 1st quarter. NBC Securities Inc. now owns 2,082 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 2,080 shares during the period. Finally, Versant Capital Management Inc lifted its position in NNN REIT by 151.9% during the 1st quarter. Versant Capital Management Inc now owns 4,255 shares of the real estate investment trust's stock worth $181,000 after acquiring an additional 2,566 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.