NNN REIT (NYSE:NNN) Hits New 12-Month Low – Here’s What Happened

NNN REIT, Inc. (NYSE:NNN)’s share price reached a new 52-week low during 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.

Wall Street Analyst Weigh In

NNN has been the subject of several research reports. Colliers Securities downgraded NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. BNP Paribas cut NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a research note on Monday, November 4th. Royal Bank of Canada decreased their price target on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Robert W. Baird increased their price target on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, UBS Group decreased their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.85.

NNN REIT Stock Down 0.9 %

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 stock has a 50 day simple moving average of $41.90 and a 200 day simple moving average of $44.85. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.17 and a beta of 1.11.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.58 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a yield of 6.16%. NNN REIT’s dividend payout ratio (DPR) is presently 107.41%.

Insider Buying and Selling at NNN REIT

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 stock was sold at an average price of $42.51, for a total value of $42,510.00. Following the transaction, the executive vice president now owns 68,756 shares in the company, valued at $2,922,817.56. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Amalgamated Bank lifted its holdings in NNN REIT by 4.1% during the second 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 period. Pathway Financial Advisers LLC raised its stake in shares of 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 buying an additional 1,414 shares during the period. Handelsbanken Fonder AB raised its stake in shares of NNN REIT by 40.7% in 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. GAMMA Investing LLC raised its stake in shares of NNN REIT by 23.8% in the third 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 during the period. Finally, Sound Income Strategies LLC grew its position in shares of NNN REIT by 19.0% in the third 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 in the last quarter. Institutional investors own 89.96% of the company’s stock.

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.