NNN REIT (NYSE:NNN) Issues FY 2024 Earnings Guidance

Posted by Clark Linder on May 4th, 2024

NNN REIT (NYSE:NNN – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.250-3.310 for the period, compared to the consensus earnings per share estimate of 3.310. The company issued revenue guidance of -.

NNN REIT Trading Up 0.5 %

Shares of NNN traded up $0.22 on Friday, reaching $41.80. 1,183,421 shares of the company’s stock were exchanged, compared to its average volume of 1,207,819. The business has a 50 day moving average price of $41.40 and a two-hundred day moving average price of $40.74. NNN REIT has a 12 month low of $34.38 and a 12 month high of $44.96. The stock has a market capitalization of $7.66 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.00. The company has a current ratio of 0.52, a quick ratio of 1.26 and a debt-to-equity ratio of 1.04.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.565 per share. This represents a $2.26 annualized dividend and a dividend yield of 5.41%. The ex-dividend date is Monday, April 29th. NNN REIT’s payout ratio is 103.67%.

Analysts Set New Price Targets

Separately, BNP Paribas raised NNN REIT from an underperform rating to a neutral rating and set a $42.00 price objective for the company in a research note on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $44.50.

View Our Latest Analysis on NNN REIT

NNN REIT Company Profile

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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.