B. Riley Weighs in on NNN REIT’s Q3 Earnings (NYSE:NNN)

NNN REIT, Inc. (NYSE:NNN) – Stock analysts at B. Riley cut their Q3 2024 EPS estimates for NNN REIT in a research note issued to investors on Wednesday, October 30th. B. Riley analyst J. Massocca now forecasts that the real estate investment trust will post earnings of $0.82 per share for the quarter, down from their prior forecast of $0.83. B. Riley has a “Neutral” rating and a $49.00 price objective on the stock. The consensus estimate for NNN REIT’s current full-year earnings is $3.30 per share. B. Riley also issued estimates for NNN REIT’s Q2 2025 earnings at $0.85 EPS, Q4 2025 earnings at $0.85 EPS and FY2025 earnings at $3.40 EPS.

A number of other brokerages have also issued reports on NNN. StockNews.com lowered NNN REIT from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 price objective (up previously from $47.00) on shares of NNN REIT in a report on Tuesday, October 1st. Royal Bank of Canada lowered their target price on NNN REIT from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday. Raymond James lifted their target price on NNN REIT from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Finally, Colliers Securities cut shares of NNN REIT from a “buy” rating to a “neutral” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NNN REIT has an average rating of “Hold” and an average price target of $47.17.

NNN REIT Price Performance

NNN REIT stock opened at $43.40 on Monday. The company’s 50 day simple moving average is $47.71 and its 200-day simple moving average is $44.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.72 and a current ratio of 1.72. NNN REIT has a 1 year low of $37.69 and a 1 year high of $49.57. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10.

NNN REIT (NYSE:NNN) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.24). NNN REIT had a net margin of 45.63% and a return on equity of 9.47%. The company had revenue of $216.81 million during the quarter, compared to analyst estimates of $212.30 million. During the same period in the previous year, the company earned $0.80 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year.

Institutional Trading of NNN REIT

A number of institutional investors have recently bought and sold shares of NNN. LRI Investments LLC acquired a new stake in shares of NNN REIT during the 1st quarter worth about $34,000. Bruce G. Allen Investments LLC boosted its holdings in shares of NNN REIT by 1,276.8% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,047 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of NNN REIT in the 2nd quarter valued at $59,000. GAMMA Investing LLC raised its stake in NNN REIT by 93.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 1,123 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in NNN REIT by 14.1% in the third quarter. Farther Finance Advisors LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 280 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NNN REIT

In other news, EVP Michelle Lynn Miller sold 4,000 shares of NNN REIT stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total transaction of $187,520.00. Following the completion of the sale, the executive vice president now directly owns 69,756 shares of the company’s stock, valued at approximately $3,270,161.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

NNN REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, October 31st. NNN REIT’s payout ratio is presently 107.41%.

About NNN REIT

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.