NNN REIT, Inc. (NYSE:NNN – Get Free Report) declared 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 dividend on an annualized basis and a dividend yield of 5.23%. This is a boost from NNN REIT’s previous quarterly dividend of $0.57.
NNN REIT has raised its dividend payment by an average of 10.4% annually over the last three years and has raised its dividend annually for the last 34 consecutive years. NNN REIT has a payout ratio of 110.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect NNN REIT to earn $3.41 per share next year, which means the company should continue to be able to cover its $2.26 annual dividend with an expected future payout ratio of 66.3%.
NNN REIT Stock Performance
Shares of NYSE:NNN opened at $44.36 on Monday. The company’s 50 day moving average price is $42.16 and its two-hundred day moving average price is $41.74. NNN REIT has a 12-month low of $34.38 and a 12-month high of $44.87. The firm has a market cap of $8.13 billion, a PE ratio of 20.35, a PEG ratio of 3.50 and a beta of 1.07. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.04.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on NNN
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.
Further Reading
- Five stocks we like better than NNN REIT
- Roth IRA Calculator: Calculate Your Potential Returns
- How to Optimize Your Covered Call Strategy in a Rising Market
- Basic Materials Stocks Investing
- This Stock Could Rally Following a Bottom in Mortgage Markets
- With Risk Tolerance, One Size Does Not Fit All
- CPI Data Sparks Rally in Biotech Stocks
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.