NNN REIT (NYSE:NNN) Issues 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 Stock Up 0.5 %

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

NNN REIT Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, BNP Paribas upgraded NNN REIT from an underperform rating to a neutral rating and set a $42.00 price target for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NNN REIT currently has an average 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.