If you invested $10,000 in NNN REIT stock 10 years ago, how much do you have now?
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NNN REIT Co., Ltd. (NYSE:NNN) invests primarily in high-quality commercial properties, which are typically subject to long-term net leases. As of December 31, 2023, the Company owned 3,532 properties in 49 states with approximately 36 million square feet of gross leasable area and a weighted average remaining lease term of 10.1 years.
The company is scheduled to announce its fourth quarter 2024 earnings on February 6, 2025. Wall Street analysts expect the company’s EPS to be unchanged from the year-ago period at $0.85. According to Benzinga Pro, quarterly revenue is expected to reach $219.27 million, up from $216.23 million a year ago.
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Ten years ago, the company’s stock traded at about $39.25 per share. If you invested $10,000, you would have bought about 255 shares. The stock is currently trading at $41.88. This means that the value of your investment could increase to $10,670 just from the increase in stock price. However, NNN REIT has also paid dividends over the last 10 years.
NNN REIT’s dividend yield is currently 5.54%. Over the past 10 years, the company has paid approximately $20.18 in dividends per share. That means you could have earned $5,141 in dividends alone.
Add together $10,670 and $5,141 for a final investment of $15,811. This is what you would have earned if you invested $10,000 in NNN REIT stock 10 years ago. In other words, the total return is 58.11%. However, this number is significantly lower than the S&P 500’s total return of 233.36% over the same period.
NNN REIT has a consensus rating of Neutral and a price target of $46.82, based on 19 analyst ratings. The price target suggests a potential upside of more than 11% from the current share price.
On October 31, the company announced its third quarter 2024 earnings, with FFO of $0.84 versus consensus estimates of $0.83 and revenue of $218,564,000 versus consensus estimate of $215.15 million. It was reported that. Benzinga.
CEO Steve Horn commented: “NNN has maintained consistent performance, with third quarter 2024 FFO and core FFO per share results increasing 3.7% compared to the prior year results. More than $175 million in cash, With $1.2 billion available under our revolving credit facility and our balance sheet with no debt maturities until the fourth quarter of 2025, NNN continues to be well positioned to take advantage of ample growth opportunities and deliver long-term shareholder value.
Core FFO per share guidance for 2024 has been 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.
Growth-focused investors may find NNN REIT stock attractive given its expected 11% upside. Additionally, you can benefit from the company’s solid 5.54% dividend yield.
check this out Benzinga Articles For three more stocks that offer high dividend yields:
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