NETSTREIT (NYSE:NTST) Shares Gap Up After Dividend Announcement

NETSTREIT Corp. (NYSE:NTST) gapped up prior to trading on Tuesday following a dividend announcement from the company. The stock had previously closed at $15.09, but opened at $16.34. NETSTREIT shares last traded at $15.72, with a volume of 203,157 shares traded.

The newly announced dividend which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.31%. NETSTREIT’s payout ratio is -1,399.77%.

Analyst Upgrades and Downgrades

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

NETSTREIT Stock Performance

The stock has a market capitalization of $1.22 billion, a PE ratio of -263.71 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.08 and a current ratio of 4.08. The firm’s 50 day moving average is $16.27 and its two-hundred day moving average is $16.62.

NETSTREIT (NYSE:NTST) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). The company had revenue of $41.44 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.31 EPS. As a group, research analysts predict that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

Institutional Trading of NETSTREIT

A number of large investors have recently made changes to their positions in the company. Natixis Advisors LLC grew its stake in shares of NETSTREIT by 3.7% during the third quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock worth $431,000 after purchasing an additional 941 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of NETSTREIT by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock valued at $228,000 after acquiring an additional 977 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of NETSTREIT by 5.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 17,939 shares of the company’s stock worth $297,000 after acquiring an additional 1,001 shares in the last quarter. Van ECK Associates Corp raised its position in shares of NETSTREIT by 13.7% during the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after acquiring an additional 1,359 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in NETSTREIT by 4.2% during the third quarter. State of Alaska Department of Revenue now owns 36,869 shares of the company’s stock worth $609,000 after purchasing an additional 1,490 shares during the last quarter.

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.