If You Invested $10,000 In A NNN REIT Stock 10 Years Ago, How Much Would You Get Now?
Benzinga and Yahoo Finance LLC may earn commission or revenue on certain items through the links below.
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 lease term of 10.1 years remaining.
It is expected to report its Q4 2024 earnings on February 6, 2025. Wall Street analysts expect the company to post EPS of $0.85, unchanged from the year-ago period. According to Benzinga Pro, quarterly revenue is expected to reach $219.27 million, up from $216.23 million in the previous year.
Don't Miss:
The company's stock was trading at around $39.25 per share 10 years ago. If you had invested $10,000, you could have bought about 255 shares. Currently, shares are trading at $41.88, meaning the value of your investment could have increased to $10,670 from stock price appreciation alone. However, NNN REIT also paid dividends 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 made $5,141 in dividends alone.
Summing $10,670 and $5,141, we end up with the final value of your investment, which is $15,811. Here's how much you could have made if you had invested $10,000 in NNN REIT stock 10 years ago. This means a total return of 58.11%. However, this figure is significantly lower than the S&P 500's total return for the same period, which was 233.36%.
NNN REIT has a consensus rating of “Neutral” and a price target of $46.82, based on 19 analyst ratings. The price target suggests more than 11% upside potential to the current stock price.
On October 31, the company announced its Q3 2024 earnings, posting 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, as reported by To gasoline.
Steve Horn, Chief Executive Officer, said: “NNN continues to perform consistently, with a 3.7% increase in FFO and Core FFO per share results in the third quarter of 2024 compared to the prior year results. With over $175 million in cash, $1.2 billion available on our revolving credit facility and no debt maturity until the fourth quarter of 2025, our balance sheet continues to allow NNN to take advantage of sufficiently accumulated opportunities and remain well-positioned to provide long-term shareholder. value.”
Prior Core FFO per share guidance for 2024 was reduced 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 potential of 11%, growth-oriented investors may find NNN REIT stock attractive. Moreover, they can benefit from the company's solid dividend yield of 5.54%.
Look at this article by Benzinga for three other stocks offering high dividend yields.
