NNN REIT (NYSE:NNN) Reaches New 1-Year Low - What's Next?

NNN REIT, Inc. (NYSE:NNN - Get Free Report)'s share price hit a new 52-week low on Wednesday . The stock traded as low as $40.21 and last traded at $41.01, with a volume of 1693848 shares traded. The stock had previously closed at $40.80.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. B. Riley reiterated a "neutral" rating and issued a $43.00 price objective (down from $46.50) on shares of NNN REIT in a research report on Tuesday, February 18th. Royal Bank of Canada lowered their price objective on NNN REIT from $45.00 to $43.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 12th. 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 report on Monday, March 10th. Jefferies Financial Group lowered NNN REIT from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $52.00 to $43.00 in a research report on Thursday, January 2nd. Finally, Evercore ISI assumed coverage on NNN REIT in a research report on Friday, January 31st. They issued an "inline" rating and a $42.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $44.54.

NNN REIT Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.55 and a quick ratio of 1.55. The company has a 50 day moving average price of $41.43 and a 200 day moving average price of $41.86. The firm has a market cap of $7.71 billion, a PE ratio of 19.07, a PEG ratio of 2.06 and a beta of 0.85.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.66%. The ex-dividend date is Wednesday, April 30th. NNN REIT's payout ratio is 107.91%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Putney Financial Group LLC purchased a new position in shares of NNN REIT in the fourth quarter valued at $38,000. Lindbrook Capital LLC increased its position in shares of NNN REIT by 43.3% in the fourth 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 in the last quarter. Millstone Evans Group LLC purchased a new position in shares of NNN REIT in the fourth quarter valued at $42,000. Inlight Wealth Management LLC purchased a new position in shares of NNN REIT in the first quarter valued at $57,000. Finally, NBC Securities Inc. increased its position in shares of NNN REIT by 104,000.0% in the first quarter. NBC Securities Inc. now owns 2,082 shares of the real estate investment trust's stock valued at $88,000 after buying an additional 2,080 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

NNN REIT Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.