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

NNN REIT (NYSE:NNN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.250-3.310 for the period, compared to the consensus estimate of 3.310. The company issued revenue guidance of -.

Analyst Ratings Changes

Separately, BNP Paribas upgraded 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $44.50.

NNN REIT Price Performance

Shares of NNN stock traded up $0.22 during trading hours on Friday, hitting $41.80. 1,183,421 shares of the company’s stock were exchanged, compared to its average volume of 1,207,819. NNN REIT has a 52 week low of $34.38 and a 52 week high of $44.96. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.52 and a quick ratio of 1.26. The stock’s 50-day moving average is $41.40 and its 200-day moving average is $40.74.

NNN REIT Announces Dividend

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

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.