NETSTREIT (NYSE:NTST) Issues Earnings Results

NETSTREIT (NYSE:NTST) announced its earnings results on Monday. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33), Zacks reports. The company had revenue of $39.57 million for the quarter, compared to analysts’ expectations of $39.31 million. NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. During the same quarter in the prior year, the firm posted $0.30 earnings per share. NETSTREIT updated its FY24 guidance to $1.25-1.28 EPS and its FY 2024 guidance to 1.250-1.280 EPS.

NETSTREIT Stock Performance

NTST opened at $16.87 on Wednesday. The company has a 50 day simple moving average of $16.82 and a two-hundred day simple moving average of $17.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.30 and a quick ratio of 4.30. The firm has a market cap of $1.24 billion, a P/E ratio of 187.47, a PEG ratio of 10.26 and a beta of 0.97. NETSTREIT has a 1-year low of $13.49 and a 1-year high of $18.97.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 4.98%. NETSTREIT’s dividend payout ratio (DPR) is presently 911.21%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upped their price objective on NETSTREIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.09.

Insider Activity

In related news, Director Todd Minnis sold 6,250 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $17.86, for a total value of $111,625.00. Following the completion of the transaction, the director now owns 10,359 shares of the company’s stock, valued at approximately $185,011.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.46% of the company’s stock.

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.