NNN REIT (NYSE:NNN) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

NNN REIT, Inc. (NYSE:NNN) crossed 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.

Wall Street Analysts Forecast Growth

NNN has been the subject of a number of research analyst reports. 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 report on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of NNN REIT in a research report on Thursday, January 22nd. Evercore lowered their target price on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating for the company in a report on Monday, December 15th. UBS Group increased their target price on shares of NNN REIT from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, March 9th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of NNN REIT in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $44.83.

NNN REIT Stock Down 0.4%

The stock has a market cap of $8.04 billion, a PE ratio of 20.45, a P/E/G ratio of 6.71 and a beta of 0.83. The business has a 50 day moving average of $43.61 and a 200-day moving average of $42.06. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09.

NNN REIT Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 5.7%. NNN REIT’s dividend payout ratio (DPR) is 115.94%.

Insiders Place Their Bets

In related news, 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 value of $1,492,976.16. Following the completion of the sale, the chief executive officer owned 822,711 shares in the company, valued at $37,005,540.78. This represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Adamo sold 6,000 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $44.99, for a total transaction of $269,940.00. Following the sale, the executive vice president owned 126,358 shares of the company’s stock, valued at approximately $5,684,846.42. This represents a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On NNN REIT

Several hedge funds have recently made changes to their positions in NNN. Sound Income Strategies LLC grew its holdings in shares of NNN REIT by 8.0% during the fourth quarter. Sound Income Strategies LLC now owns 469,045 shares of the real estate investment trust’s stock worth $20,000,000 after buying an additional 34,852 shares during the last quarter. Captrust Financial Advisors lifted its position in NNN REIT by 17.3% during the 3rd quarter. Captrust Financial Advisors now owns 135,241 shares of the real estate investment trust’s stock worth $5,757,000 after acquiring an additional 19,976 shares during the period. Amalgamated Bank grew its stake in shares of NNN REIT by 0.4% in the 3rd quarter. Amalgamated Bank now owns 86,483 shares of the real estate investment trust’s stock valued at $3,682,000 after purchasing an additional 311 shares during the last quarter. Horizon Investments LLC increased its holdings in shares of NNN REIT by 65.0% in the third quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust’s stock valued at $3,230,000 after purchasing an additional 30,333 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of NNN REIT by 616.2% during the third quarter. SG Americas Securities LLC now owns 72,410 shares of the real estate investment trust’s stock worth $3,082,000 after purchasing an additional 62,299 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.