NNN REIT (NYSE:NNN) Announces Earnings Results

NNN REIT (NYSE:NNN) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86, Zacks reports. NNN REIT had a net margin of 43.90% and a return on equity of 9.00%. The company had revenue of $230.16 million during the quarter, compared to the consensus estimate of $228.45 million. NNN REIT updated its FY 2025 guidance to 3.360-3.400 EPS.

NNN REIT Trading Up 0.4%

Shares of NNN REIT stock traded up $0.15 during mid-day trading on Wednesday, hitting $39.97. 493,560 shares of the stock were exchanged, compared to its average volume of 1,277,163. NNN REIT has a twelve month low of $35.80 and a twelve month high of $44.81. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 3.91 and a beta of 0.95. The company has a 50-day simple moving average of $42.25 and a 200 day simple moving average of $42.16. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

NNN REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, October 31st. NNN REIT’s dividend payout ratio (DPR) is currently 114.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NNN shares. B. Riley upped their price target on shares of NNN REIT from $43.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Wells Fargo & Company lowered their price target on shares of NNN REIT from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. UBS Group increased their price objective on shares of NNN REIT from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Evercore ISI lowered their price objective on shares of NNN REIT from $46.00 to $44.00 and set an “in-line” rating on the stock in a research note on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NNN REIT in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.10.

Institutional Investors Weigh In On NNN REIT

A hedge fund recently raised its stake in NNN REIT stock. Captrust Financial Advisors lifted its stake in shares of NNN REIT, Inc. (NYSE:NNN) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,265 shares of the real estate investment trust’s stock after acquiring an additional 3,897 shares during the period. Captrust Financial Advisors owned 0.06% of NNN REIT worth $4,977,000 as of its most recent SEC filing. Institutional investors own 89.96% of the company’s stock.

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.