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

NETSTREIT (NYSE:NTST) announced its 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 net margin of 3.32% and a return on equity of 0.39%. The firm 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. 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

Shares of NTST stock traded up $0.22 during trading on Thursday, reaching $16.69. 192,768 shares of the company’s stock were exchanged, compared to its average volume of 938,662. The company has a quick ratio of 4.30, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.29 billion, a PE ratio of 183.02, a PEG ratio of 10.34 and a beta of 0.97. NETSTREIT has a twelve month low of $13.49 and a twelve month high of $18.97. The firm’s fifty day moving average price is $16.80 and its 200-day moving average price is $17.27.

NETSTREIT Increases Dividend

The firm 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.03%. NETSTREIT’s payout ratio is presently 911.21%.

Analysts Set New Price Targets

Separately, Scotiabank boosted their price target on NETSTREIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. One equities 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.09.

Insider Buying and Selling

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