NETSTREIT (NYSE:NTST) Issues FY 2024 Earnings Guidance

NETSTREIT (NYSE:NTST) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 1.260-1.270 for the period, compared to the consensus EPS estimate of 1.240. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

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

NETSTREIT Stock Performance

NYSE:NTST traded up $0.18 during trading hours on Thursday, hitting $16.00. 496,568 shares of the company traded hands, compared to its average volume of 1,010,212. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -263.71 and a beta of 0.97. NETSTREIT has a twelve month low of $14.92 and a twelve month high of $18.97. The firm has a 50-day moving average of $16.27 and a 200 day moving average of $16.62. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55.

NETSTREIT (NYSE:NTST) last released 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). The company had revenue of $41.44 million for the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.36%. During the same quarter in the previous year, the company earned $0.31 earnings per share. On average, analysts forecast that NETSTREIT will post 1.19 EPS for the current year.

NETSTREIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend is Monday, December 2nd. NETSTREIT’s dividend payout ratio is -1,399.77%.

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.