NNN REIT (NYSE:NNN) Reaches New 12-Month Low - Time to Sell?

NNN REIT, Inc. (NYSE:NNN - Get Free Report)'s share price reached a new 52-week low on Tuesday . The company traded as low as $38.70 and last traded at $38.74, with a volume of 449161 shares trading hands. The stock had previously closed at $39.57.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank of Canada cut their price target on shares of NNN REIT from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Friday, November 1st. Barclays started coverage on NNN REIT in a report on Tuesday, December 17th. They set an "overweight" rating and a $48.00 target price on the stock. B. Riley lowered their price target on NNN REIT from $49.00 to $46.50 and set a "buy" rating on the stock in a research report on Wednesday, December 4th. BNP Paribas downgraded NNN REIT from a "neutral" rating to an "underperform" rating and set a $44.00 price objective for the company. in a report on Monday, November 4th. Finally, UBS Group dropped their price target on shares of NNN REIT from $49.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $45.85.

NNN REIT Stock Down 2.0 %

The stock's fifty day simple moving average is $42.38 and its 200-day simple moving average is $44.95. The stock has a market cap of $7.27 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.17 and a beta of 1.11. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.85 and a current ratio of 2.85.

NNN REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT's dividend payout ratio is currently 107.41%.

Insider Buying and Selling at NNN REIT

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $42.51, for a total value of $42,510.00. Following the completion of the transaction, the executive vice president now directly owns 68,756 shares in the company, valued at approximately $2,922,817.56. The trade was a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC raised its stake in shares of NNN REIT by 19.0% during the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust's stock valued at $15,280,000 after purchasing an additional 50,213 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew 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 valued at $9,134,000 after buying an additional 28,476 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust's stock valued at $2,531,000 after buying an additional 15,100 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of NNN REIT in the fourth quarter worth about $206,000. Finally, DGS Capital Management LLC bought a new position in shares of NNN REIT in the third quarter valued at approximately $236,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Company Profile

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.