NNN REIT, Inc. (NYSE:NNN) Forecasted to Post Q2 2024 Earnings of $0.81 Per Share

NNN REIT, Inc. (NYSE:NNN) – Analysts at B. Riley lowered their Q2 2024 earnings per share (EPS) estimates for NNN REIT in a note issued to investors on Thursday, April 18th. B. Riley analyst J. Massocca now expects that the real estate investment trust will earn $0.81 per share for the quarter, down from their previous estimate of $0.82. The consensus estimate for NNN REIT’s current full-year earnings is $3.27 per share. B. Riley also issued estimates for NNN REIT’s Q3 2024 earnings at $0.80 EPS, Q1 2025 earnings at $0.83 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.83 EPS and Q4 2025 earnings at $0.83 EPS.

NNN REIT Price Performance

Shares of NNN REIT stock opened at $40.00 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $7.31 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 4.62 and a beta of 1.00. The firm has a fifty day moving average price of $41.35 and a two-hundred day moving average price of $40.35. NNN REIT has a fifty-two week low of $34.38 and a fifty-two week high of $44.96.

NNN REIT Announces Dividend

The business also recently announced 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. This represents a $2.26 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend is Monday, April 29th. NNN REIT’s payout ratio is presently 104.63%.

Institutional Investors Weigh In On NNN REIT

A number of institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its position in shares of NNN REIT by 95.8% in the 3rd 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 period. Harbour Trust & Investment Management Co bought a new position in NNN REIT in the fourth quarter worth $1,634,000. Nicholas Hoffman & Company LLC. acquired a new stake in NNN REIT during the third quarter worth $488,000. Essex Financial Services Inc. increased its holdings in NNN REIT by 12.8% in the 3rd quarter. Essex Financial Services Inc. now owns 11,675 shares of the real estate investment trust’s stock valued at $413,000 after buying an additional 1,326 shares during the period. Finally, Goodman Financial Corp increased its holdings in NNN REIT by 3.6% in the 3rd quarter. Goodman Financial Corp now owns 242,450 shares of the real estate investment trust’s stock valued at $8,568,000 after buying an additional 8,337 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

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.