NNN REIT (NYSE:NNN) Hits New 52-Week High Following Dividend Announcement

Shares of NNN REIT, Inc. (NYSE:NNN) hit a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The stock 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. Shareholders of record on Friday, July 31st will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from NNN REIT’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. NNN REIT’s dividend payout ratio is 116.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of NNN REIT from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of NNN REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Wall Street Zen raised NNN REIT from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Jefferies Financial Group began coverage on NNN REIT in a report on Monday, June 1st. They issued a “hold” rating and a $47.00 target price for the company. Finally, Huntington began coverage on shares of NNN REIT in a research report on Wednesday. They set an “outperform” rating and a $51.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.32.

NNN REIT Stock Performance

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $9.22 billion, a PE ratio of 23.53, a PEG ratio of 7.30 and a beta of 0.80. The stock’s fifty day simple moving average is $45.58 and its 200-day simple moving average is $43.98.

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

Key NNN REIT News

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NNN. Red Spruce Capital LLC increased its stake in NNN REIT by 2.1% in the second quarter. Red Spruce Capital LLC now owns 52,321 shares of the real estate investment trust’s stock valued at $2,434,000 after purchasing an additional 1,066 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of NNN REIT by 24.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,917 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 573 shares during the period. Versant Capital Management Inc raised its position in NNN REIT by 7.7% in the second quarter. Versant Capital Management Inc now owns 12,958 shares of the real estate investment trust’s stock valued at $603,000 after purchasing an additional 923 shares during the period. Parallel Advisors LLC lifted its position in NNN REIT by 23.3% during the 1st quarter. Parallel Advisors LLC now owns 8,276 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 1,566 shares in the last quarter. Finally, Orographic Financial Advisors LLC acquired a new position in shares of NNN REIT during the first quarter worth $1,255,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

About NNN REIT

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.