NNN REIT, Inc. (NYSE:NNN – Get Free Report)’s share price hit a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $48.49 and last traded at $48.52, with a volume of 74232 shares trading hands. The stock had previously closed at $47.42.
The newly announced dividend which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.62 per share. This is an increase from NNN REIT’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, July 31st. NNN REIT’s dividend payout ratio is currently 116.50%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on NNN shares. Citigroup increased their price objective on NNN REIT from $42.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Morgan Stanley boosted their target price on NNN REIT from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded NNN REIT from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Jefferies Financial Group started coverage on NNN REIT in a research report on Monday, June 1st. They issued a “hold” rating and a $47.00 price target on the stock. Finally, Weiss Ratings upgraded NNN REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.32.
NNN REIT Stock Up 3.8%
The firm’s fifty day simple moving average is $45.67 and its 200 day simple moving average is $44.05. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 7.30 and a beta of 0.80.
NNN REIT (NYSE:NNN – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The firm had revenue of $240.42 million during the quarter, compared to analyst estimates of $237.75 million. NNN REIT had a net margin of 41.38% and a return on equity of 8.81%. NNN REIT’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. NNN REIT has set its FY 2026 guidance at 3.480-3.540 EPS. Sell-side analysts predict that NNN REIT, Inc. will post 3.49 earnings per share for the current year.
NNN REIT News Summary
Here are the key news stories impacting NNN REIT this week:
- Positive Sentiment: NNN REIT raised its quarterly dividend by 3.3% to $0.62 per share, marking its 37th consecutive annual dividend increase and reinforcing its appeal as a steady income stock. Increased Common Dividend Declared by NNN REIT, Inc.
- Positive Sentiment: Huntington initiated coverage on NNN REIT with an outperform rating and a $51 price target, signaling room for additional upside. NNN REIT (NYSE:NNN) Coverage Initiated by Analysts at Huntington
- Neutral Sentiment: Wells Fargo lifted its price target on NNN REIT to $49 while keeping an equal weight rating, suggesting the stock may be fairly valued near current levels. Benzinga / The Fly report
- Neutral Sentiment: The dividend news also confirmed the payout date and ex-dividend date, but did not include any new operational guidance or earnings update. Increased Common Dividend Declared by NNN REIT, Inc.
Institutional Trading of NNN REIT
A number of hedge funds and other institutional investors have recently bought and sold shares of NNN. Fifth Third Wealth Advisors LLC boosted its position in shares of NNN REIT by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,999 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 251 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of NNN REIT by 11.0% in the 3rd quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 567 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of NNN REIT by 24.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,917 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 573 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of NNN REIT by 11.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,544 shares of the real estate investment trust’s stock worth $275,000 after acquiring an additional 658 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of NNN REIT by 1.0% during the 4th quarter. Handelsbanken Fonder AB now owns 67,800 shares of the real estate investment trust’s stock worth $2,687,000 after acquiring an additional 700 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.
About NNN REIT
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.
Recommended Stories
- Five stocks we like better than NNN REIT
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Receive News & Ratings for NNN REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NNN REIT and related companies with MarketBeat.com's FREE daily email newsletter.
