NNN REIT (NYSE:NNN) Reaches New 52-Week High After Dividend Announcement

Key Points

• NNN REIT hit a new 52-week high after announcing a higher quarterly dividend of $0.62 per share, up from $0.60. The dividend implies an annualized payout of $2.48 and a yield of about 5.1%.
• Analyst sentiment remains mixed but supportive overall, with several firms recently lifting price targets. Huntington initiated coverage with an outperform rating and a $51 target, while Wells Fargo raised its target to $49.
• The company’s latest earnings showed revenue growth of 4.1% year over year, though EPS of $0.50 slightly missed expectations. NNN REIT also reaffirmed FY 2026 guidance of 3.480–3.540 EPS.

NNN REIT, Inc. (NYSE:NNN - Get Free Report) reached a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $48.49 and last traded at $48.52, with a volume of 74232 shares. The stock had previously closed at $47.42.The newly announced dividend which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.48 annualized dividend and a yield of 5.1%. This is a boost from NNN REIT's previous quarterly dividend of $0.60. NNN REIT's payout ratio is 116.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group began coverage on shares of NNN REIT in a research report on Monday, June 1st. They set a "hold" rating and a $47.00 target price on the stock. Weiss Ratings raised shares of NNN REIT from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 29th. Wells Fargo & Company increased their price objective on NNN REIT from $45.00 to $49.00 and gave the company an "equal weight" rating in a report on Wednesday. Citigroup lifted their target price on shares of NNN REIT from $42.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Morgan Stanley lifted their price target on NNN REIT from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, NNN REIT has an average rating of "Hold" and an average price target of $46.32.

NNN REIT Price Performance

The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 7.30 and a beta of 0.80. The stock has a 50-day moving average price of $45.58 and a 200 day moving average price of $43.98. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10.

NNN REIT (NYSE:NNN - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). NNN REIT had a net margin of 41.38% and a return on equity of 8.81%. The company had revenue of $240.42 million for the quarter, compared to analysts' expectations of $237.75 million. During the same period in the previous year, the business earned $0.87 earnings per share. The business's revenue for the quarter was up 4.1% on a year-over-year basis. NNN REIT has set its FY 2026 guidance at 3.480-3.540 EPS. As a group, equities research analysts expect that NNN REIT, Inc. will post 3.49 earnings per share for the current year.

Key Stories Impacting NNN REIT

Here are the key news stories impacting NNN REIT this week:

• Positive Sentiment: NNN REIT declared a quarterly dividend of $0.62 per share, up 3.3% from the prior $0.60 and marking its 37th consecutive annual dividend increase, reinforcing its appeal as an income stock. Increased Common Dividend Declared by NNN REIT, Inc.
• Positive Sentiment: Huntington initiated coverage on NNN REIT with an “outperform” rating and a $51 price target, implying upside from current levels. NNN REIT NYSE: NNN Coverage Initiated by Analysts at Huntington
• Positive Sentiment: Wells Fargo also raised its price target on NNN REIT to $49 from $45, signaling improved analyst expectations even though the rating remained equal weight. Benzinga

Hedge Funds Weigh In On NNN REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NNN. Sound Income Strategies LLC boosted its holdings in NNN REIT by 1.6% in the 1st quarter. Sound Income Strategies LLC now owns 476,389 shares of the real estate investment trust's stock valued at $20,223,000 after purchasing an additional 7,344 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of NNN REIT by 798.2% in the first quarter. SG Americas Securities LLC now owns 268,872 shares of the real estate investment trust's stock valued at $11,301,000 after purchasing an additional 238,938 shares during the period. Captrust Financial Advisors grew its stake in shares of NNN REIT by 17.3% in the third quarter. Captrust Financial Advisors now owns 135,241 shares of the real estate investment trust's stock worth $5,757,000 after acquiring an additional 19,976 shares in the last quarter. Horizon Investments LLC grew its stake in NNN REIT by 65.0% during the 3rd quarter. Horizon Investments LLC now owns 77,022 shares of the real estate investment trust's stock worth $3,230,000 after purchasing an additional 30,333 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of NNN REIT by 1.0% during the fourth quarter. Handelsbanken Fonder AB now owns 67,800 shares of the real estate investment trust's stock worth $2,687,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

NNN REIT Company Profile

NNN REIT NYSE: NNN, formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.

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