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 -.

NNN REIT Price Performance

Shares of NNN traded up $0.22 during midday trading on Friday, reaching $41.80. The stock had a trading volume of 1,183,421 shares, compared to its average volume of 1,207,819. The firm’s 50 day moving average price is $41.40 and its 200-day moving average price is $40.74. NNN REIT has a 52 week low of $34.38 and a 52 week high of $44.96. The company has a market capitalization of $7.66 billion, a P/E ratio of 19.17, a P/E/G 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.

NNN REIT Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, April 29th. NNN REIT’s dividend payout ratio (DPR) is presently 103.67%.

Analyst Ratings Changes

Separately, BNP Paribas upgraded shares of NNN REIT from an underperform rating to a neutral rating and set a $42.00 price objective for the company in a research report on Thursday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $44.50.

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.