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 commercial 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 scheduled to report its fourth-quarter 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 a year ago.
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The company’s stock was trading at about $39.25 per share 10 years ago. If you had invested $10,000, you could have purchased approximately 255 shares. The stock is currently trading at $41.88, which means the value of your investment could have increased to $10,670 just from share price appreciation. However, NNN REIT also paid dividends during these 10 years.
NNN REIT’s dividend yield is currently 5.54%. Over the last 10 years, it has paid out about $20.18 in dividends per share, meaning it could have earned $5,141 from dividends alone.
Adding $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 earned if you had invested $10,000 in NNN REIT stock 10 years ago. This represents 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 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 from 19 analysts. The price target implies an upside potential of more than 11% from the current share price.
On October 31, the company announced its third-quarter 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 Benzinga.
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Steve Horn, CEO, commented: “NNN continues to perform consistently, with FFO and Core FFO results per share increasing 3.7% in the third quarter of 2024 compared to prior year results. With more than $175 million in cash, $1.2 billion available under our revolving credit facility, and no debt maturities through the fourth quarter of 2025, our balance sheet continues to enable NNN to capitalize on sufficiently accretive opportunities and remain well positioned to deliver benefits. in the long term to shareholders. worth.”
Previous 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 between $3.31 and $3.35 per share.
Given the expected growth potential of 11%, growth-focused investors may find NNN REIT stock attractive. Additionally, they can benefit from the company’s solid dividend yield of 5.54%.
Check out this Benzinga article for three more 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
