NNN REIT, Inc. (NNN)
NNN REIT, Inc. (NNN) Q2 2024 Earnings Call Transcript
NNN REIT, Inc. (NYSE:NNN ) Q2 2024 Earnings Conference Call August 1, 2024 10:30 AM ET Company Participants Steve Horn - Chief Executive Officer Kevin Habicht - Chief Financial Officer Conference Call Participants Spenser Allaway - Green Street Farrell Granath - Bank of America Kathryn Graves - UBS John Massocca - B. Riley Ronald Kamdem - Morgan Stanley Operator Greetings, and welcome to NNN REIT Inc. Second Quarter 2024 Earnings Call.
NNN REIT (NNN) Q2 FFO and Revenues Top Estimates
NNN REIT (NNN) came out with quarterly funds from operations (FFO) of $0.84 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to FFO of $0.80 per share a year ago.
NNN REIT: Here's What To Expect From Upcoming Earnings Release
NNN is a triple net lease REIT with 3,546 properties leased to 385 tenants across 49 states. Its close peers, ADC and EPRT released solid Q2 2024 results, which make me optimistic about the upcoming release of NNN. I expect more investment activity, upheld / slightly improved business metrics, positive investment spreads, and a continually strong balance sheet.
Forget Annaly Capital Management -- These Unstoppable Stocks Are Better Buys
Annaly Capital has cut its dividend several times in the past (and could do so again in the future). NNN REIT recently hit another dividend growth milestone.
Good Times? Bad Times?
Being risk averse when it comes to money is extremely normal. Tap into defensive sources of income. You can unlock high yields, all while protecting your capital. We look at highly defensive REITs.
2 High Yield Dividend Stocks For Income: One Yields More Than 5%
I will introduce you to two high dividend yield companies that could be attractive additions to your dividend portfolio. Both companies unify dividend income and dividend growth, are financially healthy, and could be important key positions in your dividend portfolio. However, to reduce the company-specific concentration risk of your investment portfolio, I suggest setting an allocation limit of 2.5% for one and 4% for the other.
2 REITs Attractively Priced With Well-Covered, Growing Dividends Not Named Realty Income
NNN REIT offers a well-covered dividend with potential for growth, outperforming Realty Income in total returns over the past 5 years. W.P. Carey, despite a reduction in dividend, remains solid with strong fundamentals and potential for growth, offering an attractive entry point. Both NNN REIT and W.P. Carey trade at attractive valuations with strong upside potential and well-covered dividends for passive income investors.
2 Dividend Payers Trading At Attractive Valuations For The Long-Term Investor
There has been a lack of broader market participation, leaving some areas of the market at better valuations than others. One of the areas that has been under particular pressure is the real estate/REIT space. These struggles are due to the higher rate environment, but income-investors with longer-term investment horizons may find some opportunities.
NNN REIT: High And Stable Income At A Low Price
NNN REIT's dividend yield is attractive at 5.35%, there is more than adequate coverage, and it has been increasing distributions for 33 years. The portfolio is very widely diversified and net leases provide stable long-term income which makes the shares a good fit for dividend portfolios. Though there are some risks, the prospects outweigh them because of the currently low price NNN is trading at in relation to the AFFO expectations.
National Retail Properties: 5.4% Yield, Upcoming Dividend Hike And Cheap
National Retail Properties is a well-managed, diversified REIT with long-term dividend growth potential. The trust has consistently raised its dividend for 34 years and is poised for another hike in the third quarter. National Retail Properties offers a higher margin of dividend safety compared to peers and has a solid track record of performance.
NNN REIT: Buy This Dividend Aristocrat Before Yields Decline
NNN REIT is a net lease REIT focused on small properties leased to various tenants, making it resilient against retail trends. NNN has a 34-year track record of increasing dividends and is one of only five REITs with the Dividend Aristocrat title. The company has highly predictable cash flow, a stable balance sheet, and an aggressive acquisition strategy, making it an attractive investment option.
NNN REIT: Still A Great Buy For Value And Income
Few REITs can match the dividend growth track record of NNN REIT. The triple net lease REIT's revenue and core FFO per share grew during the first quarter. In late May, NNN utilized its investment-grade balance sheet to secure more debt at relatively low interest rates.
