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

NNN REIT, Inc. (NYSE:NNN)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.06 and traded as high as $42.80. NNN REIT shares last traded at $42.3350, with a volume of 1,214,799 shares traded.

Analysts Set New Price Targets

NNN has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of NNN REIT in a research report on Thursday, January 22nd. Raymond James Financial reiterated a “market perform” rating on shares of NNN REIT in a report on Tuesday, March 17th. BNP Paribas Exane increased their target price on shares of NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft raised NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Tuesday, January 20th. Finally, Stifel Nicolaus set a $48.50 price target on NNN REIT in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $44.83.

NNN REIT Stock Performance

The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day simple moving average is $43.61 and its two-hundred day simple moving average is $42.05. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 6.63 and a beta of 0.83.

NNN REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, January 30th. NNN REIT’s payout ratio is currently 115.94%.

Insider Buying and Selling

In related news, EVP Jonathan Adamo sold 6,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $44.99, for a total transaction of $269,940.00. Following the transaction, the executive vice president owned 126,358 shares of the company’s stock, valued at approximately $5,684,846.42. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $44.98, for a total transaction of $1,492,976.16. Following the transaction, the chief executive officer owned 822,711 shares of the company’s stock, valued at approximately $37,005,540.78. The trade was a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC lifted its stake in shares of NNN REIT by 180.0% in the fourth quarter. Virtu Financial LLC now owns 15,714 shares of the real estate investment trust’s stock valued at $623,000 after buying an additional 10,101 shares during the period. Tudor Investment Corp ET AL acquired a new position in NNN REIT in the 4th quarter valued at approximately $1,300,000. Parallel Advisors LLC raised its holdings in NNN REIT by 17.5% in the 4th quarter. Parallel Advisors LLC now owns 6,710 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 997 shares in the last quarter. Rothschild Investment LLC lifted its position in shares of NNN REIT by 102.2% in the 4th quarter. Rothschild Investment LLC now owns 8,636 shares of the real estate investment trust’s stock worth $342,000 after acquiring an additional 4,365 shares during the period. Finally, Allstate Corp grew its holdings in shares of NNN REIT by 25.4% during the 4th quarter. Allstate Corp now owns 7,756 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 1,569 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

NNN REIT Company Profile

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.