NNN REIT, Inc. (NYSE:NNN – Get Free Report) announced a quarterly dividend on Monday, July 15th, RTT News reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.58 per share by the real estate investment trust on Thursday, August 15th. This represents a $2.32 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Wednesday, July 31st. This is an increase from NNN REIT’s previous quarterly dividend of $0.57.
NNN REIT has increased its dividend by an average of 10.4% annually over the last three years and has increased its dividend every year for the last 35 years. NNN REIT has a payout ratio of 113.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect NNN REIT to earn $3.41 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 68.0%.
NNN REIT Price Performance
Shares of NYSE NNN opened at $45.52 on Monday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 3.59 and a beta of 1.07. NNN REIT has a twelve month low of $34.38 and a twelve month high of $46.75. The business has a 50 day simple moving average of $42.82 and a 200-day simple moving average of $41.92.
Analyst Ratings Changes
Get Our Latest Research Report on NNN REIT
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.
Recommended Stories
- Five stocks we like better than NNN REIT
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- Verizon Stock: 4 Reasons to Buy This Bargain After Recent Dip
- Energy and Oil Stocks Explained
- Why a Weaker Dollar is Good News for These 3 Stocks
- Stock Analyst Ratings and Canadian Analyst Ratings
- Why Bank of America Just Approved a Huge Stock Buyback Program
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.