NNN REIT (NNN) Projected to Post Quarterly Earnings on Thursday

NNN REIT (NYSE:NNN) is expected to announce its earnings results before the market opens on Thursday, February 13th. Analysts expect the company to announce earnings of $0.82 per share and revenue of $217.52 million for the quarter.

NNN REIT Price Performance

Shares of NYSE NNN opened at $38.04 on Tuesday. The firm has a market cap of $7.13 billion, a P/E ratio of 17.61, a PEG ratio of 1.94 and a beta of 1.11. NNN REIT has a twelve month low of $37.55 and a twelve month high of $49.57. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average of $40.36 and a 200 day moving average of $44.18.

NNN REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date of this dividend is Friday, January 31st. NNN REIT’s payout ratio is 107.41%.

Insider Activity

In related news, EVP Michelle Lynn Miller sold 1,000 shares of NNN REIT stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $42.51, for a total transaction of $42,510.00. Following the sale, the executive vice president now owns 68,756 shares of the company’s stock, valued at approximately $2,922,817.56. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NNN. Evercore ISI began coverage on NNN REIT in a research report on Friday, January 31st. They set an “inline” rating and a $42.00 price objective on the stock. Royal Bank of Canada reduced their price target on shares of NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group downgraded shares of NNN REIT from a “buy” rating to a “hold” rating and lowered their price objective for the company from $52.00 to $43.00 in a research report on Thursday, January 2nd. Colliers Securities downgraded shares of NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. Finally, StockNews.com cut NNN REIT from a “buy” rating to a “hold” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.35.

NNN REIT Company Profile

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.