NETSTREIT (NYSE:NTST) Posts Earnings Results, Misses Estimates By $0.37 EPS

NETSTREIT (NYSE:NTST) announced its quarterly earnings results on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37), Zacks reports. The company had revenue of $41.44 million during the quarter, compared to analysts’ expectations of $41.10 million. NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. During the same quarter in the prior year, the business earned $0.31 EPS. NETSTREIT updated its FY 2024 guidance to 1.260-1.270 EPS.

NETSTREIT Stock Down 0.6 %

Shares of NYSE:NTST traded down $0.10 during midday trading on Wednesday, reaching $15.79. The company had a trading volume of 775,400 shares, compared to its average volume of 1,008,431. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08. The stock’s fifty day moving average price is $16.30 and its 200-day moving average price is $16.63. The stock has a market capitalization of $1.22 billion, a P/E ratio of 227.14 and a beta of 0.97. NETSTREIT has a one year low of $14.92 and a one year high of $18.97.

NETSTREIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.32%. NETSTREIT’s dividend payout ratio (DPR) is presently 1,200.00%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NTST. Wedbush began coverage on shares of NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price for the company. Stifel Nicolaus decreased their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday. Scotiabank decreased their target price on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. UBS Group assumed coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $20.00 to $19.00 in a research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.11.

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.