NNN REIT (NYSE:NNN) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• NNN REIT reported earnings of $0.85 per share, matching analyst expectations, and experienced a 4.6% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.60, up from the previous $0.58, representing a 5.7% dividend yield.
• Stock analysts have mixed views on NNN REIT, with ratings ranging from sell to buy, and an average price target of $44.38.

NNN REIT (NYSE:NNN - Get Free Report) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01, Briefing.com reports. NNN REIT had a net margin of 45.09% and a return on equity of 9.23%. The business had revenue of $226.80 million for the quarter, compared to analysts' expectations of $224.26 million. During the same period in the previous year, the company earned $0.84 earnings per share. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. NNN REIT updated its FY 2025 guidance to 3.340-3.390 EPS.

NNN REIT Trading Down 2.3%

NYSE:NNN traded down $1.01 during midday trading on Tuesday, reaching $42.04. 2,298,961 shares of the stock traded hands, compared to its average volume of 1,283,255. The company has a fifty day moving average of $42.61 and a 200 day moving average of $41.58. NNN REIT has a 12 month low of $35.80 and a 12 month high of $49.57. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $7.90 billion, a P/E ratio of 19.64, a PEG ratio of 3.94 and a beta of 0.92.

NNN REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, July 31st. This represents a $2.40 dividend on an annualized basis and a yield of 5.7%. This is an increase from NNN REIT's previous quarterly dividend of $0.58. NNN REIT's dividend payout ratio (DPR) is currently 112.15%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays cut shares of NNN REIT from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, July 22nd. Evercore ISI raised their price objective on shares of NNN REIT from $43.00 to $44.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Finally, UBS Group reduced their price objective on shares of NNN REIT from $43.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $44.38.

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.