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

NNN REIT, Inc. (NYSE:NNN) 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.

Wall Street Analysts Forecast Growth

Several analysts have commented on NNN shares. B. Riley Financial restated a “neutral” rating and set a $47.50 target price (up from $46.00) on shares of NNN REIT in a report on Wednesday, August 12th. Weiss Ratings lowered shares of NNN REIT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Wells Fargo & Company reduced their price target on shares of NNN REIT from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. National Bank Financial set a $50.00 price objective on shares of NNN REIT in a research report on Monday, July 20th. Finally, Morgan Stanley upgraded shares of 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. 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.56.

NNN REIT Price Performance

The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 5.00 and a beta of 0.77. The company has a 50 day simple moving average of $41.57 and a 200-day simple moving average of $44.22. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.10.

NNN REIT (NYSE:NNN) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $245.37 million. NNN REIT had a return on equity of 8.93% and a net margin of 40.89%. Research analysts expect that NNN REIT, Inc. will post 3.52 EPS for the current year.

NNN REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.62 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.48 annualized dividend and a yield of 6.0%. NNN REIT’s payout ratio is presently 118.10%.

Hedge Funds Weigh In On NNN REIT

Large investors have recently bought and sold shares of the company. Peak Financial Advisors LLC lifted its stake in NNN REIT by 2.2% in the 3rd quarter. Peak Financial Advisors LLC now owns 11,948 shares of the real estate investment trust’s stock valued at $491,000 after purchasing an additional 254 shares during the last quarter. Interchange Capital Partners LLC grew its holdings in NNN REIT by 4.5% during the third quarter. Interchange Capital Partners LLC now owns 6,153 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 263 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in NNN REIT by 77.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 636 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 277 shares during the period. Covestor Ltd increased its position in NNN REIT by 64.3% during the third quarter. Covestor Ltd now owns 800 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 313 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in NNN REIT by 155.8% during the second quarter. Parkside Financial Bank & Trust now owns 550 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 335 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

About NNN REIT

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.