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NNN REIT, Inc. (NYSE:Nnn) invests primarily in high-quality retail properties that are generally subject 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.
It is scheduled to announce its earnings for the fourth quarter of 2024 on February 6, 2025. Wall Street analysts expect the company to record earnings per share of $0.85, unchanged from the same period last year. According to Benzinga Pro, quarterly revenue is expected to reach $219.27 million, up from $216.23 million a year earlier.
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The company’s shares traded at about $39.25 per share 10 years ago. If you had invested $10,000, you could have bought approximately 255 shares. Currently, shares are trading at $41.88, which means the value of your investment could have risen to $10,670 from the rise in the stock price alone. However, NNN REIT also paid a dividend during these 10 years.
NNN REIT’s dividend yield is currently 5.54%. Over the past 10 years, it has paid about $20.18 in dividends per share, which means you could have generated $5,141 in dividends alone.
By adding together $10,670 and $5,141, we end up with the final value of your investment, which is $15,811. This is how much you could have made if you invested $10,000 in NNN REIT stock 10 years ago. This means a total return of 58.11%. However, this number is much lower than the S&P 500’s total return for the same period, which is 233.36%.
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NNN REIT has a consensus rating of “Neutral” and a price target of $46.82, based on ratings by 19 analysts. The target price indicates a potential upside of more than 11% from the current stock price.
On October 31, the company announced its third-quarter 2024 earnings, reporting FFO of $0.84, compared to the consensus estimate of $0.83, and revenue of $218.564 million, compared to the consensus of $215.15 million, it reported. To gasoline.
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“NNN continues its consistent performance, with a 3.7% increase in FFO and Core FFO results per share in the third quarter of 2024 compared to the prior year’s results,” commented Steve Horn, CEO. With over $175 million in cash, $1.2 billion available in our revolving credit facility and no debt maturing through Q4 2025, our balance sheet continues to allow NNN to capitalize on sufficient accretive opportunities and remain well positioned to provide support to shareholders over the long term. The long one. value.”
Previous core FFO per share guidance for 2024 has been narrowed from $3.27 to $3.33 per share to $3.28 to $3.32 per share. 2024 AFFO is estimated at $3.31 to $3.35 per share.
Given the expected 11% upside potential, growth-focused investors may find NNN REIT stock attractive. Furthermore, they can benefit from the company’s strong dividend yield of 5.54%.
Check this out Benzinga article For three other stocks that offer high dividend yields.
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This article If you invested $10,000 in NNN REIT stock 10 years ago, how much would you have now? Originally appeared on Benzinga.com