NETSTREIT (NYSE:NTST) Issues FY24 Earnings Guidance

NETSTREIT (NYSE:NTST) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $1.25-1.28 for the period, compared to the consensus EPS estimate of $1.22. NETSTREIT also updated its FY 2024 guidance to 1.250-1.280 EPS.

Analyst Upgrades and Downgrades

Separately, Scotiabank boosted their price objective on shares of NETSTREIT from $17.00 to $18.00 and gave the company a sector perform rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, NETSTREIT has a consensus rating of Hold and an average price target of $18.09.

NETSTREIT Price Performance

Shares of NYSE NTST traded down $0.30 during trading hours on Thursday, hitting $16.17. 865,362 shares of the stock were exchanged, compared to its average volume of 942,818. The company’s fifty day simple moving average is $16.80 and its two-hundred day simple moving average is $17.27. The company has a market cap of $1.25 billion, a PE ratio of 183.02, a price-to-earnings-growth ratio of 10.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.30 and a current ratio of 4.08. NETSTREIT has a 1-year low of $13.49 and a 1-year high of $18.97.

NETSTREIT (NYSE:NTST) last issued its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The business had revenue of $39.57 million during the quarter, compared to analyst estimates of $39.31 million. During the same period in the prior year, the business posted $0.30 EPS. On average, sell-side analysts predict that NETSTREIT will post 1.18 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.19%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is 911.21%.

Insider Activity at NETSTREIT

In related news, Director Todd Minnis sold 6,250 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $17.86, for a total transaction of $111,625.00. Following the sale, the director now owns 10,359 shares of the company’s stock, valued at approximately $185,011.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

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.