NNN REIT (NYSE:NNN) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of NNN REIT, Inc. (NYSE:NNN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.98 and traded as high as $43.35. NNN REIT shares last traded at $43.28, with a volume of 1,385,927 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NNN shares. UBS Group boosted their target price on shares of NNN REIT from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Wells Fargo & Company dropped their target price on shares of NNN REIT from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. Evercore ISI boosted their target price on shares of NNN REIT from $43.00 to $44.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Finally, Barclays cut shares of NNN REIT from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $44.17.

NNN REIT Trading Up 1.4%

The company has a market cap of $8.17 billion, a P/E ratio of 20.61, a PEG ratio of 3.88 and a beta of 0.95. The stock’s 50 day moving average is $42.46 and its 200-day moving average is $41.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

NNN REIT (NYSE:NNN) last announced its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The company had revenue of $226.80 million for the quarter, compared to analysts’ expectations of $224.26 million. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. NNN REIT’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. Research analysts anticipate that NNN REIT, Inc. will post 3.33 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a $0.60 dividend. This is a positive change from NNN REIT’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $2.40 dividend on an annualized basis and a yield of 5.5%. NNN REIT’s payout ratio is presently 114.29%.

Hedge Funds Weigh In On NNN REIT

A number of hedge funds have recently bought and sold shares of NNN. Chung Wu Investment Group LLC purchased a new position in NNN REIT in the 2nd quarter worth about $30,000. Brooklyn Investment Group raised its position in NNN REIT by 140.8% in the 1st quarter. Brooklyn Investment Group now owns 802 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 469 shares during the last quarter. Putney Financial Group LLC purchased a new position in NNN REIT in the 4th quarter worth about $38,000. Inlight Wealth Management LLC purchased a new position in NNN REIT in the 1st quarter worth about $57,000. Finally, NBC Securities Inc. raised its position in NNN REIT by 104,000.0% in the 1st quarter. NBC Securities Inc. now owns 2,082 shares of the real estate investment trust’s stock worth $88,000 after buying an additional 2,080 shares during the last quarter. Hedge funds and other 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.