NNN REIT, Inc. (NNN) to Issue Quarterly Dividend of $0.57 on May 15th

NNN REIT, Inc. (NYSE:NNN) declared a quarterly dividend on Monday, April 15th, RTT News reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.565 per share by the real estate investment trust on Wednesday, May 15th. This represents a $2.26 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Monday, April 29th.

NNN REIT has increased its dividend by an average of 10.5% per year over the last three years and has raised its dividend every year for the last 34 years. NNN REIT has a dividend payout ratio of 110.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect NNN REIT to earn $3.40 per share next year, which means the company should continue to be able to cover its $2.26 annual dividend with an expected future payout ratio of 66.5%.

NNN REIT Trading Down 0.6 %

NNN opened at $40.78 on Friday. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 4.77 and a beta of 1.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.05. NNN REIT has a 12 month low of $34.38 and a 12 month high of $44.96. The stock has a fifty day moving average price of $41.41 and a 200-day moving average price of $40.55.

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.