NETSTREIT (NYSE:NTST) Issues Quarterly Earnings Results

NETSTREIT (NYSE:NTST) announced its quarterly earnings data on Monday. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37), Zacks reports. The firm had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. NETSTREIT had a negative return on equity of 0.36% and a negative net margin of 2.96%. During the same quarter in the prior year, the business posted $0.31 EPS. NETSTREIT updated its FY 2024 guidance to 1.260-1.270 EPS.

NETSTREIT Stock Performance

NETSTREIT stock opened at $15.83 on Thursday. NETSTREIT has a 12-month low of $14.92 and a 12-month high of $18.97. The stock has a 50-day simple moving average of $16.27 and a 200 day simple moving average of $16.62. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -263.71 and a beta of 0.97.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.31%. NETSTREIT’s dividend payout ratio (DPR) is presently -1,399.77%.

Analysts Set New Price Targets

NTST has been the topic of a number of recent research reports. Scotiabank decreased their price target on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. UBS Group initiated coverage on NETSTREIT in a research note on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective on the stock. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Stifel Nicolaus lowered their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush started coverage on NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.11.

NETSTREIT Company Profile

NETSTREIT Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets.