NNN REIT (NYSE:NNN) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• NNN REIT's stock has recently crossed above its 200-day moving average, trading at $42.51, with analysts predicting a consensus target price of $44.17.
• The company declared a quarterly dividend of $0.60 per share, increasing from $0.58, representing an annualized dividend yield of 5.6%.
• Analyst ratings for NNN REIT show a mix of opinions, with one Buy rating, ten Holds, and two Sells, indicating a general consensus rating of "Reduce."

NNN REIT, Inc. (NYSE:NNN - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NNN shares. Wells Fargo & Company dropped their price objective on NNN REIT from $44.00 to $43.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Barclays downgraded NNN REIT from a "strong-buy" rating to a "strong sell" rating in a research report on Tuesday, July 22nd. UBS Group boosted their target price on NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. Finally, Evercore ISI boosted their target price on NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, NNN REIT currently has a consensus rating of "Reduce" and a consensus target price of $44.17.

NNN REIT Stock Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The business has a 50-day simple moving average of $42.48 and a 200-day simple moving average of $41.96. The firm has a market capitalization of $8.06 billion, a PE ratio of 20.33, a P/E/G ratio of 3.91 and a beta of 0.95.

NNN REIT (NYSE:NNN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.01. NNN REIT had a return on equity of 9.00% and a net margin of 43.90%.The business had revenue of $226.80 million for the quarter, compared to the consensus estimate of $224.26 million. During the same period in the prior year, the business posted $0.84 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. Equities research analysts expect that NNN REIT, Inc. will post 3.33 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a $0.60 dividend. The ex-dividend date was Thursday, July 31st. This is a positive change 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 currently 114.29%.

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently modified their holdings of NNN. Putney Financial Group LLC purchased a new stake in shares of NNN REIT in the fourth quarter worth approximately $38,000. Versant Capital Management Inc raised its holdings in shares of NNN REIT by 151.9% in the first quarter. Versant Capital Management Inc now owns 4,255 shares of the real estate investment trust's stock worth $181,000 after buying an additional 2,566 shares during the period. GAMMA Investing LLC raised its holdings in shares of NNN REIT by 3,301.7% in the first quarter. GAMMA Investing LLC now owns 98,138 shares of the real estate investment trust's stock worth $4,186,000 after buying an additional 95,253 shares during the period. Parallel Advisors LLC raised its holdings in shares of NNN REIT by 10.6% in the first quarter. Parallel Advisors LLC now owns 6,566 shares of the real estate investment trust's stock worth $280,000 after buying an additional 628 shares during the period. Finally, Red Spruce Capital LLC grew its stake in NNN REIT by 10.3% in the first quarter. Red Spruce Capital LLC now owns 47,907 shares of the real estate investment trust's stock worth $2,043,000 after purchasing an additional 4,464 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other 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.