NETSTREIT (NYSE:NTST) Issues Quarterly Earnings Results

by · The Markets Daily

NETSTREIT (NYSE:NTST – Get Free Report) issued its earnings results on Monday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37), Zacks reports. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. The business had revenue of $41.44 million for the quarter, compared to the consensus estimate of $41.10 million. 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 Price Performance

NTST stock traded down $0.12 during mid-day trading on Wednesday, hitting $15.77. 743,065 shares of the stock were exchanged, compared to its average volume of 1,008,281. The business has a fifty day moving average price of $16.30 and a 200 day moving average price of $16.63. NETSTREIT has a 12 month low of $14.92 and a 12 month high of $18.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 227.14 and a beta of 0.97.

NETSTREIT Announces Dividend

The company also recently announced 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 yield of 5.33%. NETSTREIT’s dividend payout ratio is presently 1,200.00%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTST. 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 report on Tuesday. Raymond James upgraded 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. UBS Group started coverage on NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Scotiabank cut their target price on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Wedbush started coverage on NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.11.

Read Our Latest Report on NTST

About NETSTREIT

(Get Free Report)

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.

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