NNN REIT (NYSE:NNN) Sets New 52-Week Low - Time to Sell?

NNN REIT, Inc. (NYSE:NNN - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $37.85 and last traded at $37.85, with a volume of 2288 shares trading hands. The stock had previously closed at $38.00.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Colliers Securities downgraded shares of NNN REIT from a "buy" rating to a "neutral" rating in a research report on Friday, November 1st. Wells Fargo & Company reiterated an "equal weight" rating and set a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft started coverage on NNN REIT in a report on Wednesday, December 11th. They issued a "hold" rating and a $46.00 price target on the stock. UBS Group dropped their target price on NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Finally, BNP Paribas cut NNN REIT from a "neutral" rating to an "underperform" rating and set a $44.00 target price on the stock. in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $45.85.

NNN REIT Stock Up 1.6 %

The firm has a market capitalization of $7.24 billion, a P/E ratio of 17.87, a PEG ratio of 2.17 and a beta of 1.11. The firm's 50 day moving average is $41.80 and its two-hundred day moving average is $44.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85.

NNN REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT's dividend payout ratio (DPR) is presently 107.41%.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total transaction of $42,510.00. Following the completion of the sale, the executive vice president now owns 68,756 shares in the company, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sound Income Strategies LLC boosted its holdings in shares of NNN REIT by 19.0% during the third quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust's stock worth $15,280,000 after acquiring an additional 50,213 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in NNN REIT by 17.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 188,369 shares of the real estate investment trust's stock worth $9,134,000 after purchasing an additional 28,476 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in NNN REIT by 40.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust's stock valued at $2,531,000 after purchasing an additional 15,100 shares during the period. Everence Capital Management Inc. acquired a new position in NNN REIT in the 4th quarter valued at $206,000. Finally, DGS Capital Management LLC bought a new position in NNN REIT during the 3rd quarter worth $236,000. 89.96% of the stock is owned by institutional investors.

About NNN REIT

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years.