NNN REIT (NYSE:NNN) Stock Breaks Below 50-Day Moving Average – Here’s Why

NNN REIT, Inc. (NYSE:NNN)’s stock price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty 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.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NNN shares. National Bank Financial set a $50.00 price target on shares of NNN REIT in a research report on Monday, July 20th. Citigroup dropped their price objective on shares of NNN REIT from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, November 6th. Barclays cut their target price on shares of NNN REIT from $47.00 to $43.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 20th. Weiss Ratings lowered shares of NNN REIT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Truist Financial increased their target price on shares of NNN REIT from $45.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.56.

NNN REIT Price Performance

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 company has a debt-to-equity ratio of 1.10, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50 day moving average of $41.74 and a 200 day moving average of $44.23.

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

NNN REIT Announces Dividend

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

Institutional Trading of NNN REIT

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in NNN REIT in the second quarter valued at approximately $1,242,752,000. Bank of America Corp DE acquired a new position in NNN REIT during the 2nd quarter worth approximately $87,737,000. Bank of New York Mellon Corp purchased a new stake in shares of NNN REIT in the 2nd quarter valued at approximately $85,430,000. Equity Investment Corp purchased a new stake in shares of NNN REIT in the 2nd quarter valued at approximately $77,566,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of NNN REIT in the 2nd quarter valued at approximately $66,584,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.