NETSTREIT (NYSE:NTST) Releases Quarterly Earnings Results, Misses Expectations By $0.33 EPS

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

NETSTREIT Stock Down 2.4 %

NYSE:NTST traded down $0.40 during trading hours on Wednesday, hitting $16.47. The company’s stock had a trading volume of 928,328 shares, compared to its average volume of 943,043. NETSTREIT has a 52-week low of $13.49 and a 52-week high of $18.97. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.21 billion, a P/E ratio of 187.47, a price-to-earnings-growth ratio of 10.26 and a beta of 0.97. The stock has a fifty day moving average of $16.82 and a 200-day moving average of $17.28.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a $0.21 dividend. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 5.10%. NETSTREIT’s dividend payout ratio (DPR) is 911.21%.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their price objective on shares of 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 given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NETSTREIT currently has a consensus rating of “Hold” and an average price target of $18.09.

Insiders Place Their Bets

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

About NETSTREIT

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.