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

NNN REIT (NYSE:NNN) 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 -.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas raised shares of NNN REIT from an underperform rating to a neutral rating and set a $42.00 price target on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $44.50.

NNN REIT Stock Performance

Shares of NNN REIT stock traded up $0.22 during trading hours on Friday, hitting $41.80. 1,183,421 shares of the company’s stock traded hands, compared to its average volume of 1,207,819. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 19.17, a PEG 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 has a 12-month low of $34.38 and a 12-month high of $44.96. The company has a fifty day simple moving average of $41.40 and a 200-day simple moving average of $40.74.

NNN REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.565 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.26 dividend on an annualized basis and a dividend yield of 5.41%. NNN REIT’s dividend payout ratio (DPR) 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.