NNN REIT (NYSE:NNN) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• NNN REIT shares crossed above their 200-day moving average of $42.18, trading as high as $44.77 and last at $43.595 on volume of 1,426,141, a bullish technical signal.
• The company announced a quarterly dividend of $0.60 (annualized $2.40) for a 5.5% yield, but the dividend payout ratio is an elevated 115.94%, which may raise sustainability concerns.
• Analyst coverage is mixed with a MarketBeat consensus rating of Reduce and an average price target of $45.06, while insiders including the CEO and EVP have recently sold shares.

NNN REIT, Inc. (NYSE:NNN - Get Free Report)'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 $42.18 and traded as high as $44.77. NNN REIT shares last traded at $43.5950, with a volume of 1,426,141 shares changing hands.

Wall Street Analyst Weigh In

NNN has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of NNN REIT in a report on Thursday, January 22nd. Robert W. Baird set a $46.00 price target on shares of NNN REIT in a report on Thursday, February 12th. BNP Paribas Exane upped their price target on shares of NNN REIT from $43.00 to $44.00 and gave the company a "strong sell" rating in a report on Thursday, February 12th. Stifel Nicolaus set a $48.50 price objective on shares of NNN REIT in a report on Wednesday, February 11th. Finally, Barclays upped their price objective on shares of NNN REIT from $43.00 to $45.00 and gave the stock an "underweight" rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $45.06.

NNN REIT Stock Down 1.8%

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $8.29 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 5.96 and a beta of 0.85. The company's fifty day simple moving average is $44.04 and its 200 day simple moving average is $42.18.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.40 annualized dividend and a yield of 5.5%. NNN REIT's dividend payout ratio is 115.94%.

Insider Buying and Selling at NNN REIT

In other NNN REIT news, EVP Jonathan Adamo sold 6,000 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $44.99, for a total value of $269,940.00. Following the completion of the transaction, the executive vice president directly owned 126,358 shares in the company, valued at approximately $5,684,846.42. This represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the completion of the transaction, the chief executive officer owned 822,711 shares of the company's stock, valued at $37,005,540.78. This trade represents a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of NNN REIT

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fifth Third Wealth Advisors LLC grew its position in shares of NNN REIT by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,999 shares of the real estate investment trust's stock worth $252,000 after buying an additional 251 shares during the period. SG Americas Securities LLC grew its position in shares of NNN REIT by 798.2% in the 1st quarter. SG Americas Securities LLC now owns 268,872 shares of the real estate investment trust's stock worth $11,301,000 after buying an additional 238,938 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of NNN REIT in the 1st quarter worth about $2,165,000. Virtu Financial LLC grew its position in shares of NNN REIT by 180.0% in the 4th quarter. Virtu Financial LLC now owns 15,714 shares of the real estate investment trust's stock worth $623,000 after buying an additional 10,101 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of NNN REIT in the 4th quarter worth about $1,300,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

About NNN REIT

NNN REIT NYSE: NNN, formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.

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