NNN REIT, Inc. (NYSE:NNN - Get Free Report) shares 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 traded.
A number of research analysts recently issued reports on NNN shares. StockNews.com upgraded shares of NNN REIT from a "hold" rating to a "buy" rating in a report on Friday, August 2nd. B. Riley boosted their price target on shares of NNN REIT from $42.50 to $49.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on shares of NNN REIT from $43.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd. Raymond James upped their price target on shares of NNN REIT from $47.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $50.00 price objective (up from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. Five equities 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 an average price target of $47.33.
View Our Latest Report on NNN REIT
The company's 50 day simple moving average is $47.68 and its 200 day simple moving average is $44.49. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.72 and a current ratio of 1.72. The stock has a market cap of $8.86 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 3.79 and a beta of 1.09.
NNN REIT (NYSE:NNN - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a return on equity of 9.70% and a net margin of 47.39%. The company had revenue of $216.81 million for the quarter, compared to analysts' expectations of $212.30 million. During the same quarter in the previous year, the business earned $0.80 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that NNN REIT, Inc. will post 3.3 earnings per share for the current year.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.80%. NNN REIT's dividend payout ratio (DPR) is currently 106.42%.
In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the firm's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the transaction, the executive vice president now directly owns 69,756 shares of the company's stock, valued at $3,270,161.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC raised its position 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 buying an additional 50,213 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of NNN REIT by 23.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust's stock valued at $140,000 after buying an additional 553 shares in the last quarter. Handelsbanken Fonder AB lifted its position 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 worth $2,531,000 after buying an additional 15,100 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in NNN REIT by 32.9% in the second quarter. Pathway Financial Advisers LLC now owns 5,709 shares of the real estate investment trust's stock worth $243,000 after buying an additional 1,414 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of NNN REIT by 4.1% in the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust's stock worth $4,420,000 after acquiring an additional 4,088 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.
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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