NNN REIT, Inc. (NYSE:NNN - Free Report) - Analysts at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for shares of NNN REIT in a research note issued on Wednesday, October 30th. B. Riley analyst J. Massocca now expects that the real estate investment trust will post earnings per share of $0.82 for the quarter, down from their previous forecast of $0.83. B. Riley currently has a "Neutral" rating and a $49.00 target price on the stock. The consensus estimate for NNN REIT's current full-year earnings is $3.30 per share. B. Riley also issued estimates for NNN REIT's Q2 2025 earnings at $0.85 EPS, Q4 2025 earnings at $0.85 EPS and FY2025 earnings at $3.40 EPS.
Other analysts have also issued reports about the stock. Raymond James increased their price target 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. Wells Fargo & Company restated an "equal weight" rating and issued a $50.00 target price (up from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. UBS Group upped their price target on NNN REIT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. StockNews.com cut NNN REIT from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Finally, Colliers Securities lowered NNN REIT from a "buy" rating to a "neutral" rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $47.17.
Read Our Latest Analysis on NNN REIT
Shares of NYSE:NNN opened at $43.40 on Monday. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The business's 50 day moving average is $47.71 and its 200 day moving average is $44.75. The stock has a market cap of $7.97 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. NNN REIT has a 52-week low of $37.69 and a 52-week high of $49.57.
NNN REIT (NYSE:NNN - Get Free Report) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.24). The company had revenue of $216.81 million for the quarter, compared to analysts' expectations of $212.30 million. NNN REIT had a net margin of 45.63% and a return on equity of 9.47%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Thursday, October 31st. NNN REIT's dividend payout ratio (DPR) is 107.41%.
In other NNN REIT news, EVP Michelle Lynn Miller sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 approximately $3,270,161.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.82% of the company's stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sound Income Strategies LLC boosted its stake in shares of NNN REIT by 451.3% during the 2nd quarter. Sound Income Strategies LLC now owns 264,905 shares of the real estate investment trust's stock worth $11,285,000 after acquiring an additional 216,855 shares in the last quarter. SG Americas Securities LLC increased its holdings in NNN REIT by 95.5% in the 1st quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust's stock worth $2,724,000 after acquiring an additional 31,141 shares in the last quarter. Handelsbanken Fonder AB raised its position in NNN REIT by 40.7% during the third quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust's stock worth $2,531,000 after acquiring an additional 15,100 shares during the period. Pathway Financial Advisers LLC acquired a new stake in shares of NNN REIT in the first quarter valued at about $184,000. Finally, Amalgamated Bank raised its holdings in shares of NNN REIT by 4.1% during the second quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust's stock valued at $4,420,000 after acquiring an additional 4,088 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.
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.
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