NNN REIT (NYSE:NNN) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

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%.

NNN REIT, Inc. (NYSE:NNN - Get Free Report)'s stock price passed 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 changing hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NNN shares. Evercore ISI boosted their price target on NNN REIT from $44.00 to $46.00 and gave the stock an "in-line" rating in a research report on Monday. UBS Group boosted their target price on shares of NNN REIT from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Barclays lowered shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company lowered their price objective 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 equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, NNN REIT presently has a consensus rating of "Reduce" and a consensus target price of $44.33.

NNN REIT Trading Up 0.5%

The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 3.91 and a beta of 0.95. The business's 50 day moving average price is $42.43 and its two-hundred day moving average price is $41.99.

NNN REIT (NYSE:NNN - Get Free Report) last released its quarterly earnings data 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. NNN REIT had a return on equity of 9.00% and a net margin of 43.90%.The company had revenue of $226.80 million for the quarter, compared to the consensus estimate of $224.26 million. During the same quarter last year, the business posted $0.84 EPS. NNN REIT's revenue for the quarter was up 4.6% on a year-over-year basis. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. On average, equities analysts predict that NNN REIT, Inc. will post 3.33 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a dividend of $0.60 per share. The ex-dividend date was Thursday, July 31st. This represents a $2.40 annualized dividend and a yield of 5.6%. This is a boost from NNN REIT's previous quarterly dividend of $0.58. NNN REIT's dividend payout ratio is 114.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Putney Financial Group LLC acquired a new position in shares of NNN REIT in the fourth quarter worth approximately $38,000. Versant Capital Management Inc lifted its stake in shares of NNN REIT by 151.9% in the 1st quarter. Versant Capital Management Inc now owns 4,255 shares of the real estate investment trust's stock valued at $181,000 after purchasing an additional 2,566 shares during the period. GAMMA Investing LLC lifted its stake 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 buying an additional 95,253 shares during the period. Parallel Advisors LLC lifted its stake in 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 valued at $280,000 after buying an additional 628 shares during the period. Finally, Red Spruce Capital LLC lifted 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 valued at $2,043,000 after buying an additional 4,464 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

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.