NNN REIT (NYSE:NNN) Stock Price Crosses Below 50-Day Moving Average - Here's What Happened

NNN REIT, Inc. (NYSE:NNN - Get Free Report) shares crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $41.74 and traded as low as $41.05. NNN REIT shares last traded at $41.3890, with a volume of 1,853,988 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley upgraded NNN REIT from an "equal weight" rating to an "overweight" rating and set a $50.00 price objective on the stock in a report on Monday, September 21st. Huntington began coverage on shares of NNN REIT in a research report on Wednesday, November 4th. They issued a "strong-buy" rating for the company. Weiss Ratings downgraded shares of NNN REIT from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. B. Riley Financial reissued a "neutral" rating and issued a $47.50 price target (up from $46.00) on shares of NNN REIT in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada boosted their price target on shares of NNN REIT from $42.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $46.56.

NNN REIT Stock Down 0.9%

The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 5.11 and a beta of 0.77. The business has a fifty day moving average of $41.74 and a 200 day moving average of $44.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.58 and a quick ratio of 0.58.

NNN REIT (NYSE:NNN - Get Free Report) last posted its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.05. NNN REIT had a return on equity of 8.93% and a net margin of 40.89%. The company had revenue of $249.68 million for the quarter, compared to the consensus estimate of $245.37 million. As a group, equities analysts predict that NNN REIT, Inc. will post 3.52 earnings per share for the current year.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, October 30th. NNN REIT's dividend payout ratio (DPR) is presently 118.10%.

Institutional Investors Weigh In On NNN REIT

A number of institutional investors have recently made changes to their positions in NNN. BlackRock Inc. purchased a new position in shares of NNN REIT during the 2nd quarter worth approximately $1,242,752,000. Equity Investment Corp increased its holdings in NNN REIT by 46.1% in the 3rd quarter. Equity Investment Corp now owns 2,435,846 shares of the real estate investment trust's stock valued at $100,089,000 after purchasing an additional 768,831 shares during the last quarter. Bank of America Corp DE acquired a new stake in NNN REIT in the 2nd quarter valued at approximately $87,737,000. Bank of New York Mellon Corp purchased a new stake in NNN REIT in the second quarter valued at approximately $85,430,000. Finally, Jefferies Financial Group Inc. purchased a new stake in NNN REIT in the second quarter valued at approximately $66,584,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Company Profile

NNN REIT, Inc. is a real estate investment trust that owns and manages freestanding retail properties across the United States. Its portfolio includes properties leased to businesses in a range of retail categories. The company primarily uses long-term, single-tenant net leases. Under these arrangements, tenants generally pay property expenses such as taxes, insurance and maintenance in addition to rent. Founded in 1984, the company was formerly known as National Retail Properties before adopting the NNN REIT name in 2023.

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