B. Riley Equities Analysts Decrease Earnings Estimates for NNN REIT, Inc. (NYSE:NNN)

NNN REIT, Inc. (NYSE:NNN) – Equities research analysts at B. Riley cut their Q2 2024 earnings per share (EPS) estimates for shares of NNN REIT in a report released on Thursday, April 18th. B. Riley analyst J. Massocca now expects that the real estate investment trust will post earnings of $0.81 per share for the quarter, down from their previous forecast of $0.82. The consensus estimate for NNN REIT’s current full-year earnings is $3.27 per share. B. Riley also issued estimates for NNN REIT’s Q3 2024 earnings at $0.80 EPS, Q1 2025 earnings at $0.83 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.83 EPS and Q4 2025 earnings at $0.83 EPS.

NNN REIT Price Performance

Shares of NYSE NNN opened at $40.00 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.05. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 4.62 and a beta of 1.00. The company’s 50-day moving average price is $41.35 and its 200 day moving average price is $40.35. NNN REIT has a 52 week low of $34.38 and a 52 week high of $44.96.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NNN. Norges Bank purchased a new position in NNN REIT during the fourth quarter worth $90,553,000. State Street Corp increased its stake in NNN REIT by 8.8% in the first quarter. State Street Corp now owns 19,941,222 shares of the real estate investment trust’s stock valued at $896,159,000 after purchasing an additional 1,610,795 shares during the last quarter. Federated Hermes Inc. lifted its position in NNN REIT by 29.0% during the first quarter. Federated Hermes Inc. now owns 2,556,747 shares of the real estate investment trust’s stock worth $114,900,000 after buying an additional 574,203 shares during the period. BlackRock Inc. boosted its position in shares of NNN REIT by 2.4% in the first quarter. BlackRock Inc. now owns 20,617,682 shares of the real estate investment trust’s stock worth $910,271,000 after acquiring an additional 491,887 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of NNN REIT by 254.1% in the 1st quarter. Alyeska Investment Group L.P. now owns 634,156 shares of the real estate investment trust’s stock valued at $27,998,000 after purchasing an additional 455,085 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

NNN REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.565 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.26 annualized dividend and a dividend yield of 5.65%. NNN REIT’s dividend payout ratio is presently 104.63%.

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.