NNN REIT (NYSE:NNN) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

NNN REIT, Inc. (NYSE:NNN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $41.71 and traded as high as $44.60. NNN REIT shares last traded at $44.3630, with a volume of 1,057,819 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NNN. BNP Paribas Exane boosted their price objective on NNN REIT from $43.00 to $44.00 and gave the stock a “strong sell” rating in a research report on Thursday, February 12th. Robert W. Baird set a $46.00 price target on NNN REIT in a research report on Thursday, February 12th. Evercore lowered their price target on NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Stifel Nicolaus set a $48.50 price objective on shares of NNN REIT in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company increased their target price on shares of NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NNN REIT currently has a consensus rating of “Reduce” and an average target price of $44.61.

NNN REIT Stock Down 0.3%

The stock has a 50 day moving average price of $41.85 and a 200 day moving average price of $41.71. The company has a market cap of $8.43 billion, a P/E ratio of 21.43, a P/E/G ratio of 3.27 and a beta of 0.86. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09.

NNN REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.60 per share. The ex-dividend date was Friday, January 30th. This represents a $2.40 annualized dividend and a dividend yield of 5.4%. NNN REIT’s dividend payout ratio (DPR) is 115.94%.

Institutional Trading of NNN REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNN. Quent Capital LLC acquired a new position in NNN REIT in the third quarter worth approximately $51,000. Ameriflex Group Inc. boosted its stake in shares of NNN REIT by 1,266.1% during the 3rd quarter. Ameriflex Group Inc. now owns 2,336 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 2,165 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of NNN REIT by 1,066.9% during the 3rd quarter. Rothschild Investment LLC now owns 4,271 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 3,905 shares in the last quarter. Hanson & Doremus Investment Management acquired a new position in shares of NNN REIT in the 4th quarter worth $187,000. Finally, Bayforest Capital Ltd raised its position in shares of NNN REIT by 705.2% during the third quarter. Bayforest Capital Ltd now owns 4,525 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 3,963 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

About NNN REIT

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.