NNN REIT (NYSE:NNN) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Shares of NNN REIT recently crossed above their 200-day moving average, reaching a high of $43.35, contributing to investor interest.
• Analysts have mixed opinions on NNN REIT, with Barclays downgrading the stock to a "strong sell," whereas UBS increased the target price to $44, sustaining a "neutral" rating.
• NNN REIT announced a quarterly dividend increase to $0.60 per share, reflecting a yield of 5.5% and a dividend payout ratio of 114.29%.

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.98 and traded as high as $43.35. NNN REIT shares last traded at $43.28, with a volume of 1,385,927 shares.

Wall Street Analyst Weigh In

NNN has been the topic of several research reports. Barclays downgraded shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, July 22nd. UBS Group lifted their target price on shares of NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Evercore ISI lifted their target price on shares of NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company decreased their target price on shares of NNN REIT from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. One 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, the stock currently has an average rating of "Reduce" and an average target price of $44.17.

NNN REIT Trading Up 1.4%

The company has a market capitalization of $8.17 billion, a PE ratio of 20.61, a P/E/G ratio of 3.88 and a beta of 0.95. The firm's 50 day moving average is $42.46 and its 200 day moving average is $41.98. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40.

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

NNN REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.5%. This is an increase from NNN REIT's previous quarterly dividend of $0.58. The ex-dividend date was Thursday, July 31st. NNN REIT's dividend payout ratio (DPR) is presently 114.29%.

Institutional Trading of NNN REIT

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in 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 valued at $4,186,000 after acquiring an additional 95,253 shares in the last quarter. Goodman Financial Corp boosted its holdings in NNN REIT by 3.3% in the first quarter. Goodman Financial Corp now owns 308,870 shares of the real estate investment trust's stock valued at $13,173,000 after acquiring an additional 9,755 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of NNN REIT by 11.4% during the 1st quarter. Sound Income Strategies LLC now owns 384,553 shares of the real estate investment trust's stock valued at $16,401,000 after buying an additional 39,289 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of NNN REIT by 25.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,682 shares of the real estate investment trust's stock valued at $114,000 after buying an additional 546 shares in the last quarter. Finally, Adams Asset Advisors LLC boosted its holdings in shares of NNN REIT by 49.1% during the 1st quarter. Adams Asset Advisors LLC now owns 18,611 shares of the real estate investment trust's stock valued at $794,000 after buying an additional 6,130 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

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.

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