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

Key Points

• NNN REIT's stock recently crossed above its two hundred day moving average, reaching a high of $42.88 before closing at $42.14, indicating potential bullish momentum.
• Analyst ratings on NNN REIT are mixed, with one "Buy," eleven "Hold," and two "Sell" ratings, and a consensus price target of $44.33.
• The company declared a quarterly dividend of $0.60, which equates to a yield of 5.7%, although it has a high dividend payout ratio of 114.29%.

Shares of NNN REIT, Inc. (NYSE:NNN - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $42.01 and traded as high as $42.88. NNN REIT shares last traded at $42.14, with a volume of 1,465,723 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NNN shares. Barclays reduced their price objective on shares of NNN REIT from $44.00 to $43.00 and set an "underweight" rating for the company in a research note on Monday. Evercore ISI boosted their target price on shares of NNN REIT from $44.00 to $46.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. 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 research report on Friday, August 15th. B. Riley boosted their target price on shares of NNN REIT from $43.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of NNN REIT in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $44.33.

NNN REIT Stock Performance

The firm's fifty day moving average price is $42.33 and its 200-day moving average price is $42.01. 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 cap of $7.95 billion, a P/E ratio of 20.07, a P/E/G ratio of 4.06 and a beta of 0.95.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The company had revenue of $226.80 million for the quarter, compared to the consensus estimate of $224.26 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The business's 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. As a group, research analysts forecast that NNN REIT, Inc. will post 3.33 EPS for the current fiscal year.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, October 31st. NNN REIT's dividend payout ratio is 114.29%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NNN. Jeppson Wealth Management LLC raised its position in NNN REIT by 9.1% in the first quarter. Jeppson Wealth Management LLC now owns 25,602 shares of the real estate investment trust's stock worth $1,092,000 after purchasing an additional 2,129 shares in the last quarter. Graypoint LLC acquired a new position in NNN REIT in the first quarter worth about $450,000. Lindbrook Capital LLC raised its position in NNN REIT by 447.6% in the first quarter. Lindbrook Capital LLC now owns 5,531 shares of the real estate investment trust's stock worth $236,000 after purchasing an additional 4,521 shares in the last quarter. Bayforest Capital Ltd raised its position in NNN REIT by 789.5% in the first quarter. Bayforest Capital Ltd now owns 5,159 shares of the real estate investment trust's stock worth $220,000 after purchasing an additional 4,579 shares in the last quarter. Finally, Goodman Financial Corp raised its position 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 worth $13,173,000 after purchasing an additional 9,755 shares in the last quarter. Institutional investors and hedge funds 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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