NNN REIT, Inc. (NYSE:NNN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $41.90 and traded as high as $42.59. NNN REIT shares last traded at $42.51, with a volume of 934,812 shares.
Wall Street Analyst Weigh In
A number of research firms have recently commented on NNN. Evercore ISI upped their price objective on NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Barclays cut shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, July 22nd. Wells Fargo & Company dropped their price objective on shares of NNN REIT from $44.00 to $43.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Finally, UBS Group lifted their price target on shares of NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $44.17.
Read Our Latest Stock Analysis on NNN REIT
NNN REIT Trading Down 1.2%
The firm's 50-day simple moving average is $42.50 and its 200 day simple moving average is $41.95. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a market cap of $8.08 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 3.94 and a beta of 0.95.
NNN REIT (NYSE:NNN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The business had revenue of $226.80 million for the quarter, compared to analyst estimates of $224.26 million. During the same quarter in the prior year, the firm posted $0.84 EPS. NNN REIT's revenue was up 4.6% on a year-over-year basis. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. As a group, analysts expect that NNN REIT, Inc. will post 3.33 earnings per share for the current year.
NNN REIT Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a dividend of $0.60 per share. The ex-dividend date was Thursday, July 31st. This is an increase from NNN REIT's previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 5.6%. NNN REIT's dividend payout ratio (DPR) is 114.29%.
Hedge Funds Weigh In On NNN REIT
Large investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its holdings in NNN REIT by 8.2% in the 2nd quarter. Sound Income Strategies LLC now owns 416,058 shares of the real estate investment trust's stock worth $17,965,000 after buying an additional 31,505 shares during the period. Goodman Financial Corp boosted its holdings in shares of NNN REIT by 3.3% in the 1st quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust's stock valued at $13,173,000 after buying an additional 9,755 shares in the last quarter. Captrust Financial Advisors lifted its stake in NNN REIT by 3.5% in the second quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust's stock valued at $4,977,000 after buying an additional 3,897 shares during the last quarter. GAMMA Investing LLC grew its holdings in NNN REIT by 3,301.7% during the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock worth $4,186,000 after acquiring an additional 95,253 shares during the period. Finally, Red Spruce Capital LLC grew its holdings in NNN REIT by 0.7% in the second quarter. Red Spruce Capital LLC now owns 48,252 shares of the real estate investment trust's stock valued at $2,084,000 after purchasing an additional 345 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.
About NNN REIT
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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.
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