NNN REIT (NNN) to Release Earnings on Thursday

NNN REIT (NYSE:NNN) is set to announce its earnings results before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

NNN REIT Stock Up 0.3 %

NNN REIT stock traded up $0.14 during midday trading on Tuesday, reaching $45.81. The company’s stock had a trading volume of 379,705 shares, compared to its average volume of 1,186,981. The business has a 50-day simple moving average of $42.89 and a 200-day simple moving average of $41.94. The company has a market cap of $8.40 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.59 and a beta of 1.07. NNN REIT has a fifty-two week low of $34.38 and a fifty-two week high of $46.75. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.04.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Wednesday, July 31st. This is a positive change from NNN REIT’s previous quarterly dividend of $0.57. NNN REIT’s dividend payout ratio (DPR) is 103.67%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of NNN REIT from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. UBS Group lifted their price target on shares of NNN REIT from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. StockNews.com cut shares of NNN REIT from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, BNP Paribas raised NNN REIT from an “underperform” rating to a “neutral” rating and set a $42.00 price objective on the stock in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.50.

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.