NNN REIT, Inc. (NYSE:NNN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $44.49 and traded as high as $48.90. NNN REIT shares last traded at $48.33, with a volume of 1,523,764 shares.
Wall Street Analysts Forecast Growth
NNN has been the subject of several research analyst reports. Wells Fargo & Company restated an "equal weight" rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. B. Riley raised their target price on NNN REIT from $42.50 to $49.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. StockNews.com raised NNN REIT from a "hold" rating to a "buy" rating in a report on Friday, August 2nd. Raymond James raised their price objective on NNN REIT from $47.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada raised their price objective on NNN REIT from $43.00 to $46.00 and gave the company a "sector perform" rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, NNN REIT currently has a consensus rating of "Hold" and a consensus target price of $47.33.
Read Our Latest Stock Report on NNN REIT
NNN REIT Stock Performance
The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 3.79 and a beta of 1.09. The firm has a fifty day simple moving average of $47.73 and a 200 day simple moving average of $44.51. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72.
NNN REIT (NYSE:NNN - Get Free Report) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.24). The firm had revenue of $216.81 million during the quarter, compared to analysts' expectations of $212.30 million. NNN REIT had a net margin of 47.39% and a return on equity of 9.70%. The business's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 EPS. On average, analysts anticipate that NNN REIT, Inc. will post 3.3 earnings per share for the current fiscal year.
NNN REIT Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.58 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.32 annualized dividend and a dividend yield of 4.87%. NNN REIT's dividend payout ratio (DPR) is presently 106.42%.
Insider Activity
In other news, EVP Michelle Lynn Miller sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total value of $187,520.00. Following the transaction, the executive vice president now owns 69,756 shares in the company, valued at $3,270,161.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.82% of the company's stock.
Hedge Funds Weigh In On NNN REIT
A number of institutional investors have recently added to or reduced their stakes in NNN. LRI Investments LLC purchased a new position in NNN REIT during the first quarter worth approximately $34,000. Bruce G. Allen Investments LLC lifted its position in NNN REIT by 1,276.8% during the second quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,047 shares in the last quarter. Versant Capital Management Inc purchased a new position in NNN REIT during the second quarter worth approximately $59,000. GAMMA Investing LLC raised its position in NNN REIT by 93.2% in the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust's stock valued at $99,000 after purchasing an additional 1,123 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in shares of NNN REIT in the 1st quarter valued at $184,000. Hedge funds and other institutional investors own 89.96% of the company's stock.
NNN REIT Company Profile
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Get Free Report)
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.
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