NNN REIT (NYSE:NNN) Reaches New 12-Month Low – Here’s Why

Shares of NNN REIT, Inc. (NYSE:NNN) hit 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. The stock had previously closed at $39.57.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Colliers Securities lowered NNN REIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada decreased their target price on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research report on Tuesday, October 1st. B. Riley reduced their price target on shares of NNN REIT from $49.00 to $46.50 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Finally, Robert W. Baird upped their price objective on shares of NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.85.

NNN REIT Trading Up 0.3 %

The business’s 50-day simple moving average is $42.09 and its two-hundred day simple moving average is $44.88. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.17 and a beta of 1.11.

NNN REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.97%. NNN REIT’s payout ratio is currently 107.41%.

Insider Buying and Selling

In other news, EVP Michelle Lynn Miller sold 1,000 shares of the firm’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 transaction of $42,510.00. Following the transaction, the executive vice president now directly owns 68,756 shares in the company, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On NNN REIT

Several hedge funds have recently modified their holdings of NNN. Farther Finance Advisors LLC grew its stake in shares of NNN REIT by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 280 shares during the period. GAMMA Investing LLC increased its stake in NNN REIT by 23.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,881 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 553 shares in the last quarter. Everence Capital Management Inc. acquired a new position in NNN REIT during the fourth quarter worth $206,000. DGS Capital Management LLC purchased a new stake in NNN REIT during the third quarter worth $236,000. Finally, Pathway Financial Advisers LLC grew its holdings 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 valued at $243,000 after purchasing an additional 1,414 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.