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

NNN REIT, Inc. (NYSE:NNN)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.02 and traded as high as $45.74. NNN REIT shares last traded at $45.2350, with a volume of 1,286,660 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on NNN. 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. UBS Group lifted their price objective on NNN REIT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, March 9th. Deutsche Bank Aktiengesellschaft upgraded NNN REIT from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, January 20th. Robert W. Baird set a $46.00 target price on NNN REIT in a report on Thursday, February 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NNN REIT in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, NNN REIT has a consensus rating of “Reduce” and an average price target of $44.83.

NNN REIT Stock Up 0.5%

The company’s 50-day simple moving average is $43.31 and its two-hundred day simple moving average is $42.02. The firm has a market capitalization of $8.59 billion, a P/E ratio of 21.85, a P/E/G ratio of 3.31 and a beta of 0.82. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, January 30th. NNN REIT’s payout ratio is currently 115.94%.

Insider Transactions at NNN REIT

In other NNN REIT news, EVP Jonathan Adamo sold 6,000 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $44.99, for a total value of $269,940.00. Following the completion of the sale, the executive vice president owned 126,358 shares in the company, valued at $5,684,846.42. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen A. Horn, Jr. sold 33,192 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $44.98, for a total value of $1,492,976.16. Following the completion of the transaction, the chief executive officer directly owned 822,711 shares in the company, valued at $37,005,540.78. This trade represents a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On NNN REIT

Several large investors have recently added to or reduced their stakes in NNN. Amalgamated Bank raised its position in shares of NNN REIT by 0.4% during 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 period. Parallel Advisors LLC increased its stake in NNN REIT by 11.0% in the 3rd quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 567 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in NNN REIT by 1.0% during the fourth quarter. Handelsbanken Fonder AB now owns 67,800 shares of the real estate investment trust’s stock valued at $2,687,000 after acquiring an additional 700 shares during the period. Fiduciary Alliance LLC raised its holdings in NNN REIT by 21.0% during the third quarter. Fiduciary Alliance LLC now owns 5,699 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 991 shares during the period. Finally, Quent Capital LLC purchased a new position in shares of NNN REIT in the third quarter valued at about $51,000. Hedge funds and other institutional investors 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.