NNN REIT, Inc. (NYSE:NNN) to Issue Quarterly Dividend of $0.57

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 raised its dividend payment by an average of 10.5% annually over the last three years and has raised its dividend annually for the last 34 consecutive years. NNN REIT has a 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 research 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. NNN REIT has a 52 week low of $34.38 and a 52 week high of $44.96. The business has a fifty day simple moving average of $41.41 and a 200-day simple moving average of $40.55. The firm has a market cap of $7.46 billion, a P/E ratio of 18.88, a P/E/G ratio of 4.77 and a beta of 1.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.05.

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.