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

NETSTREIT (NYSE:NTST) posted its quarterly earnings results on Monday. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 return on equity of 0.39% and a net margin of 3.32%. During the same period 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

NYSE:NTST traded down $0.15 during trading hours on Wednesday, reaching $15.74. 684,481 shares of the company were exchanged, compared to its average volume of 1,008,008. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average is $16.30 and its 200-day moving average is $16.63. The firm has a market cap of $1.22 billion, a PE ratio of 227.14 and a beta of 0.97. NETSTREIT has a twelve month low of $14.92 and a twelve month high of $18.97.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Monday, December 2nd. NETSTREIT’s dividend payout ratio is presently 1,200.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group assumed coverage on shares of NETSTREIT in a research note on Monday, October 14th. They issued a “buy” rating and a $19.00 price target on the stock. Stifel Nicolaus cut 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. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Wedbush started coverage on shares of NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective for the company. Finally, Scotiabank dropped 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. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NETSTREIT 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.