NNN REIT, Inc. Declares Quarterly Dividend of $0.60 (NYSE:NNN)

NNN REIT, Inc. (NYSE:NNN) declared a quarterly dividend on Thursday, January 15th. Shareholders of record on Friday, January 30th will be paid a dividend of 0.60 per share by the real estate investment trust on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, January 30th.

NNN REIT has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 35 years. NNN REIT has a dividend payout ratio of 115.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect NNN REIT to earn $3.51 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 68.4%.

NNN REIT Stock Up 0.6%

Shares of NNN REIT stock opened at $42.20 on Friday. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.99 and a beta of 0.86. NNN REIT has a twelve month low of $35.80 and a twelve month high of $44.23. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.10. The business’s 50 day simple moving average is $40.48 and its 200-day simple moving average is $41.67.

NNN REIT (NYSE:NNN) last released its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.86. NNN REIT had a return on equity of 8.95% and a net margin of 43.22%.The business had revenue of $230.16 million during the quarter, compared to analyst estimates of $228.45 million. NNN REIT has set its FY 2025 guidance at 3.360-3.400 EPS. Equities research analysts forecast that NNN REIT will post 3.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on NNN shares. UBS Group lowered their price target on shares of NNN REIT from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Barclays decreased their target price on shares of NNN REIT from $44.00 to $43.00 and set an “underweight” rating for the company in a research report on Monday, October 20th. Evercore ISI dropped their price target on shares of NNN REIT from $44.00 to $43.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. B. Riley reiterated a “neutral” rating and set a $43.00 price objective (down from $44.00) on shares of NNN REIT in a research report on Friday, November 14th. Finally, Wells Fargo & Company raised their target price on NNN REIT from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $43.17.

NNN REIT Company Profile

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.