NNN REIT (NYSE:NNN) Sets New 1-Year Low – Should You Sell?

Shares of NNN REIT, Inc. (NYSE:NNN) reached a new 52-week low during trading on Tuesday . The stock traded as low as $38.70 and last traded at $38.74, with a volume of 449161 shares changing hands. The stock had previously closed at $39.57.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NNN. Barclays began coverage on NNN REIT in a research report on Tuesday, December 17th. They set an “overweight” rating and a $48.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on NNN REIT in a research report on Wednesday, December 11th. They issued a “hold” rating and a $46.00 price objective on the stock. Jefferies Financial Group cut NNN REIT from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $52.00 to $43.00 in a research report on Thursday, January 2nd. B. Riley cut their price objective 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, UBS Group reduced their price target on NNN REIT from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.85.

NNN REIT Stock Performance

The stock has a 50-day simple moving average of $42.09 and a 200-day simple moving average of $44.88. The stock has a market cap of $7.29 billion, a PE ratio of 17.99, 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 current ratio of 2.85 and a quick ratio of 2.85.

NNN REIT Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.97%. NNN REIT’s dividend payout ratio (DPR) is 107.41%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On NNN REIT

A number of institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC lifted its holdings in shares of NNN REIT by 19.0% in the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust’s stock worth $15,280,000 after purchasing an additional 50,213 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position 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 worth $9,134,000 after acquiring an additional 28,476 shares during the period. Handelsbanken Fonder AB grew 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 worth $2,531,000 after purchasing an additional 15,100 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of NNN REIT during the fourth quarter valued at $206,000. Finally, DGS Capital Management LLC bought a new stake in shares of NNN REIT during the third quarter valued at about $236,000. 89.96% of the stock is currently owned by institutional investors.

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.