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

NNN REIT (NYSE:NNN) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.280-3.320 for the period, compared to the consensus EPS estimate of 3.330. The company issued revenue guidance of -. NNN REIT also updated its FY24 guidance to $3.31-3.35 EPS.

Wall Street Analyst Weigh In

NNN has been the topic of a number of research analyst reports. Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. UBS Group upped their target price on shares of NNN REIT from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lowered their price target on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday. StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Raymond James upped their target price on shares of NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.17.

NNN REIT Trading Down 0.1 %

Shares of NNN REIT stock traded down $0.04 during trading hours on Friday, hitting $43.40. The company’s stock had a trading volume of 1,533,581 shares, compared to its average volume of 988,229. NNN REIT has a 12 month low of $37.69 and a 12 month high of $49.57. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.72. The company has a market capitalization of $7.97 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. The stock has a 50 day moving average of $47.71 and a 200 day moving average of $44.75.

NNN REIT (NYSE:NNN) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.24). NNN REIT had a return on equity of 9.47% and a net margin of 45.63%. The company had revenue of $216.81 million for the quarter, compared to analyst estimates of $212.30 million. During the same quarter last year, the business posted $0.80 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts predict that NNN REIT will post 3.3 earnings per share for the current year.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.58 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.32 annualized dividend and a yield of 5.35%. NNN REIT’s dividend payout ratio is currently 107.41%.

Insider Buying and Selling at NNN REIT

In other news, EVP Michelle Lynn Miller sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $46.88, for a total transaction of $187,520.00. Following the completion of the transaction, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at $3,270,161.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.82% 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.