NNN REIT (NYSE:NNN) Reaches New 52-Week Low – Should You Sell?

NNN REIT, Inc. (NYSE:NNN)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $38.70 and last traded at $38.74, with a volume of 449161 shares. The stock had previously closed at $39.57.

Analysts Set New Price Targets

NNN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on NNN REIT in a research report on Wednesday, December 11th. They set a “hold” rating and a $46.00 target price on the stock. Robert W. Baird boosted their price objective on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. BNP Paribas cut shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research note on Monday, November 4th. UBS Group dropped their price target on shares of NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, StockNews.com downgraded shares of NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, NNN REIT presently has an average rating of “Hold” and an average target price of $45.85.

NNN REIT Price Performance

The firm has a market cap of $7.26 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.17 and a beta of 1.11. The firm’s fifty day simple moving average is $42.38 and its 200 day simple moving average is $44.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT’s dividend payout ratio is presently 107.41%.

Insiders Place Their Bets

In related news, EVP Michelle Lynn Miller sold 1,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the transaction, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On NNN REIT

A number of large investors have recently made changes to their positions in NNN. Sound Income Strategies LLC raised its holdings in shares of NNN REIT by 19.0% in the third quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after buying an additional 50,213 shares during the period. Farther Finance Advisors LLC increased its stake in NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 280 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of NNN REIT by 17.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust’s stock worth $9,134,000 after purchasing an additional 28,476 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust’s stock worth $2,531,000 after purchasing an additional 15,100 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its stake in shares of NNN REIT by 32.9% during the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 1,414 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

NNN REIT Company Profile

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.