Equities Analysts Set Expectations for NNN REIT, Inc.’s FY2024 Earnings (NYSE:NNN)

NNN REIT, Inc. (NYSE:NNN) – Analysts at B. Riley increased their FY2024 earnings per share estimates for NNN REIT in a research note issued to investors on Thursday, April 18th. B. Riley analyst J. Massocca now anticipates that the real estate investment trust will post earnings of $3.29 per share for the year, up from their previous estimate of $3.27. The consensus estimate for NNN REIT’s current full-year earnings is $3.28 per share. B. Riley also issued estimates for NNN REIT’s Q4 2024 earnings at $0.83 EPS and FY2025 earnings at $3.40 EPS.

NNN REIT Price Performance

NNN opened at $40.96 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.26 and a current ratio of 1.26. NNN REIT has a 52-week low of $34.38 and a 52-week high of $44.96. The stock has a market capitalization of $7.49 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 4.65 and a beta of 1.00. The stock’s 50 day moving average price is $41.38 and its 200-day moving average price is $40.51.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.565 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.26 annualized dividend and a dividend yield of 5.52%. NNN REIT’s dividend payout ratio (DPR) is presently 104.63%.

Institutional Investors Weigh In On NNN REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNN. Cibc World Markets Corp purchased a new stake in NNN REIT in the fourth quarter worth $2,625,000. Sound Income Strategies LLC grew its stake in NNN REIT by 96,000.0% in the first quarter. Sound Income Strategies LLC now owns 48,050 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 48,000 shares during the period. Harbour Trust & Investment Management Co purchased a new stake in NNN REIT in the fourth quarter worth $1,634,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of NNN REIT by 95.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 61,335 shares of the real estate investment trust’s stock worth $2,167,000 after acquiring an additional 30,011 shares during the last quarter. Finally, Jeppson Wealth Management LLC purchased a new stake in shares of NNN REIT in the fourth quarter worth $993,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

NNN REIT Company Profile

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.