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

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $41.27 and traded as high as $42.14. NNN REIT shares last traded at $42.05, with a volume of 837,234 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of NNN REIT in a research note on Friday, January 31st. They issued an "inline" rating and a $42.00 price objective for the company. Wells Fargo & Company boosted their price target on shares of NNN REIT from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. UBS Group reduced their price objective on NNN REIT from $44.00 to $43.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. B. Riley reiterated a "neutral" rating and issued a $43.00 price objective (down previously from $46.50) on shares of NNN REIT in a report on Tuesday, February 18th. Finally, Barclays dropped their target price on NNN REIT from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $44.46.

NNN REIT Stock Performance

The company has a 50-day simple moving average of $41.10 and a two-hundred day simple moving average of $41.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $7.73 billion, a P/E ratio of 19.13, a PEG ratio of 2.06 and a beta of 0.92.

NNN REIT (NYSE:NNN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $230.85 million for the quarter, compared to analyst estimates of $219.68 million. NNN REIT had a return on equity of 9.28% and a net margin of 45.65%. The firm's revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, equities analysts forecast that NNN REIT, Inc. will post 3.33 EPS for the current year.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a $0.58 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.32 annualized dividend and a dividend yield of 5.64%. NNN REIT's payout ratio is 108.41%.

Institutional Investors Weigh In On NNN REIT

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in shares of NNN REIT by 3,469.0% during the fourth quarter. SG Americas Securities LLC now owns 91,294 shares of the real estate investment trust's stock valued at $3,729,000 after purchasing an additional 88,736 shares during the last quarter. DGS Capital Management LLC raised its position in shares of NNN REIT by 9.5% in the 4th quarter. DGS Capital Management LLC now owns 5,330 shares of the real estate investment trust's stock worth $218,000 after purchasing an additional 461 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in NNN REIT in the 4th quarter worth about $527,000. Pathway Financial Advisers LLC boosted its stake in NNN REIT by 12.0% in the 4th quarter. Pathway Financial Advisers LLC now owns 12,840 shares of the real estate investment trust's stock worth $525,000 after purchasing an additional 1,374 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in NNN REIT by 6.5% during the 4th quarter. Handelsbanken Fonder AB now owns 55,600 shares of the real estate investment trust's stock valued at $2,271,000 after purchasing an additional 3,400 shares during 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.