If You Invested $10,000 in NNN REIT Stock 10 Years Ago, How Much Would You Have Now?
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NNN REIT, Inc. (NYSE:NNN) invests primarily in high-quality retail properties 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 set to announce its Q4 2024 earnings on February 6, 2025. Wall Street analysts expect the company to post EPS of $0.85, unchanged from the year-over-year period. According to Benzinga Pro, quarterly revenue is expected to reach $219.27 million, up from $216.23 million in the previous year.
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The company’s stock traded at about $39.25 per share 10 years ago. If you invested $10,000, you could buy about 255 shares. Currently, the stock trades at $41.88, which means the value of your investment could have grown to $10,670 from the stock price appreciation alone. However, NNN REIT has also paid dividends during these 10 years.
The annual dividend yield was 5.54% for NNN REIT. Over the past 10 years, it has paid about $20.18 in dividends per share, which means it could have made $5,141 from just dividends.
Summing up $10,670 and $5,141, you end up with the final value of your investment, which is $15,811. This is how much you could have earned if you invested $10,000 in NNN REIT stock 10 years ago. This means a total return of 58.11%. However, this figure is significantly less than the total return of the S&P 500 for the same period, which is 233.36%.
NNN REIT has a consensus rating of “Neutral” and a price target of $46.82, based on ratings from 19 analysts. The price range implies more than 11% potential upside from the current share 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 the gasoline.
Steve Horn, Chief Executive Officer, said: “NNN continues to deliver consistent performance, with a 3.7% increase in FFO and Core FFO per share results in the third quarter 2024 compared to the prior year results . With more than $175 million in cash, $1.2 billion available on our revolving credit facility and no maturing debt until the fourth quarter of 2025, our balance sheet continues to enable NNN to capitalize on sufficiently accretive opportunities and remain well positioned to deliver long-term shareholder value.”
The previous Core FFO guidance per share for 2024 was reduced from $3.27 to $3.33 per share to $3.28 to $3.32 per share. AFFO 2024 is estimated at $3.31 to $3.35 per share.
Given the expected upside potential of 11%, growth-focused investors may find NNN REIT shares attractive. In addition, they can take advantage of the company’s solid dividend yield of 5.54%.
Check this out Benzinga article for three more stocks that offer high dividend yields.
