NNN REIT, Inc. (NYSE:NNN) Announces Quarterly Dividend of $0.60

Key Points

• NNN REIT, Inc. declared a quarterly dividend of $0.60 per share, payable on November 14th to shareholders of record as of October 31st, indicating a yield of 5.7%.
• The company's dividend payout ratio stands at 112.1%, suggesting it currently relies on its balance sheet for dividend payments, although expected future earnings may allow for a more sustainable payout ratio of 66.1%.
• NNN REIT reported a revenue increase of 4.6% year-over-year in its latest earnings, with an earnings per share (EPS) of $0.85 for the quarter, exceeding analyst expectations.

NNN REIT, Inc. (NYSE:NNN - Get Free Report) announced a quarterly dividend on Tuesday, October 14th, RTT News reports. Shareholders of record on Friday, October 31st will be paid a dividend of 0.60 per share by the real estate investment trust on Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 5.7%.

NNN REIT has a dividend payout ratio of 112.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect NNN REIT to earn $3.51 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 66.1%.

NNN REIT Price Performance

Shares of NYSE:NNN traded up $0.04 during trading on Tuesday, hitting $42.30. 39,150 shares of the company's stock were exchanged, compared to its average volume of 1,264,443. The business's 50-day simple moving average is $42.24 and its 200 day simple moving average is $41.99. NNN REIT has a 52-week low of $35.80 and a 52-week high of $49.57. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 3.96 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. The business had revenue of $226.80 million during the quarter, compared to analyst estimates of $224.26 million. NNN REIT had a return on equity of 9.00% and a net margin of 43.90%.The company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. NNN REIT has set its FY 2025 guidance at 3.340-3.390 EPS. As a group, equities analysts predict that NNN REIT will post 3.33 EPS for the current year.

Hedge Funds Weigh In On NNN REIT

Several large investors have recently bought and sold shares of NNN. Sound Income Strategies LLC grew its holdings in shares of NNN REIT by 4.4% during the third quarter. Sound Income Strategies LLC now owns 434,193 shares of the real estate investment trust's stock worth $18,219,000 after buying an additional 18,135 shares during the last quarter. Adams Asset Advisors LLC grew its stake in NNN REIT by 5.8% in the 3rd quarter. Adams Asset Advisors LLC now owns 43,112 shares of the real estate investment trust's stock worth $1,835,000 after acquiring an additional 2,346 shares during the period. Fiduciary Alliance LLC grew its stake in NNN REIT by 21.0% in the 3rd quarter. Fiduciary Alliance LLC now owns 5,699 shares of the real estate investment trust's stock worth $243,000 after acquiring an additional 991 shares during the period. Captrust Financial Advisors boosted its holdings in shares of NNN REIT by 3.5% in the 2nd quarter. Captrust Financial Advisors now owns 115,265 shares of the real estate investment trust's stock valued at $4,977,000 after purchasing an additional 3,897 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of NNN REIT by 266.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,540 shares of the real estate investment trust's stock valued at $239,000 after acquiring an additional 4,030 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

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.

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