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

NETSTREIT Corp. (NYSE:NTST) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.21 per share on Monday, March 31st. This represents a $0.84 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend is Friday, March 14th.

NETSTREIT has increased its dividend by an average of 37.1% per year over the last three years. NETSTREIT has a dividend payout ratio of 229.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect NETSTREIT to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 64.5%.

NETSTREIT Trading Up 4.1 %

Shares of NETSTREIT stock traded up $0.58 during mid-day trading on Tuesday, hitting $14.81. 1,643,713 shares of the stock were exchanged, compared to its average volume of 817,745. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -246.79 and a beta of 1.00. NETSTREIT has a twelve month low of $13.42 and a twelve month high of $18.97. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $14.19 and a 200 day simple moving average of $15.44.

Wall Street Analysts Forecast Growth

Several analysts have commented on NTST shares. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Raymond James decreased their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Truist Financial dropped their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Mizuho reduced their target price on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus lowered their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $17.75.

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.