B. Riley Has Negative Outlook for NNN REIT Q3 Earnings

NNN REIT, Inc. (NYSE:NNN - Free Report) - Investment analysts at B. Riley reduced their Q3 2024 earnings estimates for shares of NNN REIT in a research report issued to clients and investors on Wednesday, October 30th. B. Riley analyst J. Massocca now expects that the real estate investment trust will post earnings of $0.82 per share for the quarter, down from their prior estimate of $0.83. B. Riley currently has a "Neutral" rating and a $49.00 target price 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 equities research analysts also recently issued reports on NNN. Robert W. Baird boosted their price target on shares of NNN REIT from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday. StockNews.com downgraded shares of NNN REIT from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. UBS Group upped their target price on shares of NNN REIT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. Colliers Securities downgraded shares of NNN REIT from a "buy" rating to a "neutral" rating in a research note on Friday. Finally, BNP Paribas downgraded shares of NNN REIT from a "neutral" rating to an "underperform" rating and set a $44.00 target price on the stock. in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $47.14.

NNN REIT Trading Down 0.2 %

Shares of NNN REIT stock traded down $0.07 on Monday, reaching $43.33. The company had a trading volume of 2,020,209 shares, compared to its average volume of 1,159,620. The firm's 50 day moving average price is $47.71 and its two-hundred day moving average price is $44.78. The firm has a market cap of $7.96 billion, a PE ratio of 20.06, a PEG ratio of 3.46 and a beta of 1.10. NNN REIT has a 52-week low of $37.69 and a 52-week high of $49.57. 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 (NYSE:NNN - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.24). The company had revenue of $216.81 million during the quarter, compared to analysts' expectations of $212.30 million. NNN REIT had a net margin of 45.63% and a return on equity of 9.47%. NNN REIT's revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.80 earnings per share.

Institutional Trading of NNN REIT

A number of large investors have recently bought and sold shares of the business. Sound Income Strategies LLC boosted its stake in NNN REIT by 19.0% during the 3rd quarter. Sound Income Strategies LLC now owns 315,118 shares of the real estate investment trust's stock worth $15,280,000 after purchasing an additional 50,213 shares during the period. Amalgamated Bank boosted its stake in NNN REIT by 4.1% during the 2nd quarter. Amalgamated Bank now owns 103,756 shares of the real estate investment trust's stock worth $4,420,000 after purchasing an additional 4,088 shares during the period. SG Americas Securities LLC boosted its stake in NNN REIT by 95.5% during the 1st quarter. SG Americas Securities LLC now owns 63,745 shares of the real estate investment trust's stock worth $2,724,000 after purchasing an additional 31,141 shares during the period. Handelsbanken Fonder AB boosted its stake in NNN REIT by 40.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 52,200 shares of the real estate investment trust's stock worth $2,531,000 after purchasing an additional 15,100 shares during the period. Finally, Nicholas Hoffman & Company LLC. boosted its stake in NNN REIT by 1.8% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 13,325 shares of the real estate investment trust's stock worth $568,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Insider Activity

In other news, EVP Michelle Lynn Miller sold 4,000 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $46.88, for a total value of $187,520.00. Following the completion of the transaction, the executive vice president now owns 69,756 shares in the company, valued at approximately $3,270,161.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company's stock.

NNN REIT Dividend Announcement

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