NETSTREIT Corp. (NYSE:NTST) Announces Quarterly Dividend of $0.21

NETSTREIT Corp. (NYSE:NTST) declared a quarterly dividend on Monday, November 4th, NASDAQ reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.21 per share on Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 5.28%. The ex-dividend date is Monday, December 2nd.

NETSTREIT has raised its dividend by an average of 354.1% annually over the last three years. NETSTREIT has a payout ratio of 254.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect NETSTREIT to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 67.7%.

NETSTREIT Price Performance

NYSE NTST traded up $0.81 during trading hours on Tuesday, reaching $15.90. 2,282,954 shares of the stock traded hands, compared to its average volume of 1,009,400. 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 50 day simple moving average of $16.30 and a two-hundred day simple moving average of $16.63. NETSTREIT has a 1 year low of $14.92 and a 1 year high of $18.97. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 227.00 and a beta of 0.97.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Wedbush started 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. 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. Stifel Nicolaus cut their price target on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday. Finally, UBS Group initiated coverage on NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NETSTREIT currently has an average rating of “Moderate Buy” and a consensus target price of $18.11.

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.