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

NETSTREIT (NYSE:NTST) posted its quarterly earnings data on Monday. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33), Zacks reports. NETSTREIT had a net margin of 4.57% and a return on equity of 0.52%. The business had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $39.31 million. During the same quarter last year, the firm earned $0.30 earnings per share. NETSTREIT updated its FY24 guidance to $1.25-1.28 EPS and its FY 2024 guidance to 1.250-1.280 EPS.

NETSTREIT Trading Down 0.1 %

NYSE NTST traded down $0.02 on Tuesday, reaching $16.73. 27,643 shares of the company were exchanged, compared to its average volume of 932,401. The business’s fifty day moving average price is $16.84 and its 200 day moving average price is $17.29. The stock has a market capitalization of $1.23 billion, a P/E ratio of 186.58, a price-to-earnings-growth ratio of 10.33 and a beta of 0.97. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 0.55. NETSTREIT has a fifty-two week low of $13.49 and a fifty-two week high of $18.97.

Analyst Upgrades and Downgrades

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 investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.09.

Insider Activity

In other news, Director Todd Minnis sold 6,250 shares of the company’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 transaction, the director now owns 10,359 shares of the company’s stock, valued at approximately $185,011.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.