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

NETSTREIT Corp. (NYSE:NTST) shares 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 trading hands.

The newly announced dividend which will be paid on Friday, December 13th. Investors 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 yield of 5.31%. NETSTREIT’s dividend payout ratio is -1,399.77%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Scotiabank cut their price objective 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. Wedbush started coverage on shares of NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective for the company. Stifel Nicolaus lowered their target price on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday. Finally, UBS Group started coverage on NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 target price for the company. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.11.

NETSTREIT Price Performance

The company has a fifty day moving average of $16.27 and a 200 day moving average of $16.62. The firm has a market capitalization of $1.22 billion, a P/E ratio of -263.71 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08.

NETSTREIT (NYSE:NTST) last announced its earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.36%. The company had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. Sell-side analysts predict that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

Institutional Trading of NETSTREIT

Institutional investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its holdings in shares of NETSTREIT by 3.7% during the 3rd quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock worth $431,000 after buying an additional 941 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of NETSTREIT by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock worth $228,000 after buying an additional 977 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings 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 buying an additional 1,001 shares in the last quarter. Van ECK Associates Corp boosted its holdings 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 buying an additional 1,359 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of NETSTREIT by 4.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,869 shares of the company’s stock worth $609,000 after buying an additional 1,490 shares in the last quarter.

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.