NNN REIT (NYSE:NNN) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Shares of NNN REIT crossed above its 200‑day moving average, trading around $42.46 versus the 200‑day MA of $42.02 (50‑day MA $43.56) on volume of about 2.42 million shares.
• Wall Street consensus is a Reduce rating with an average target of $44.83 (1 Buy, 6 Hold, 2 Sell), while individual price targets range roughly from $43.00 to $48.50.
• The company yields 5.7% ($0.60 quarterly, $2.40 annual) but carries a high payout ratio of 115.94%, and insiders including the EVP and CEO recently sold shares.

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.02 and traded as high as $42.63. NNN REIT shares last traded at $42.4590, with a volume of 2,420,288 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NNN. Stifel Nicolaus set a $48.50 price objective on shares of NNN REIT in a research note on Wednesday, February 11th. UBS Group upped their price target on shares of NNN REIT from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, March 9th. Evercore dropped their price target on NNN REIT from $44.00 to $43.00 and set an "in-line" rating for the company in a research note on Monday, December 15th. Weiss Ratings reissued a "hold (c)" rating on shares of NNN REIT in a report on Thursday, January 22nd. Finally, Robert W. Baird set a $46.00 price objective on NNN REIT in a research report on Thursday, February 12th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, NNN REIT has a consensus rating of "Reduce" and an average target price of $44.83.

NNN REIT Trading Up 1.0%

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 6.63 and a beta of 0.85. The firm's 50-day moving average is $43.56 and its 200 day moving average is $42.02.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, January 30th. NNN REIT's payout ratio is 115.94%.

Insider Buying and Selling at NNN REIT

In related news, EVP Jonathan Adamo sold 6,000 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $44.99, for a total value of $269,940.00. Following the completion of the sale, the executive vice president directly owned 126,358 shares in the company, valued at $5,684,846.42. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the firm's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $44.98, for a total value of $1,492,976.16. Following the transaction, the chief executive officer directly owned 822,711 shares of the company's stock, valued at approximately $37,005,540.78. This represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On NNN REIT

Hedge funds have recently made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC bought a new stake in NNN REIT in the third quarter valued at approximately $879,000. SG Americas Securities LLC raised its holdings in NNN REIT by 616.2% during the 3rd quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust's stock worth $3,082,000 after purchasing an additional 62,299 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of NNN REIT by 4.4% in the 3rd quarter. Sound Income Strategies LLC now owns 434,193 shares of the real estate investment trust's stock worth $18,219,000 after purchasing an additional 18,135 shares during the period. Handelsbanken Fonder AB lifted its position in shares of NNN REIT by 25.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 67,100 shares of the real estate investment trust's stock worth $2,856,000 after purchasing an additional 13,800 shares during the period. Finally, Rothschild Investment LLC boosted its stake in shares of NNN REIT by 1,066.9% in the 3rd quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust's stock valued at $182,000 after purchasing an additional 3,905 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

NNN REIT Company Profile

NNN REIT NYSE: NNN, formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.

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