NETSTREIT (NYSE:NTST) Issues FY24 Earnings Guidance

NETSTREIT (NYSE:NTST) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $1.25-1.28 for the period, compared to the consensus EPS estimate of $1.22.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upped their target price on NETSTREIT from $17.00 to $18.00 and gave the company a sector perform rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, NETSTREIT presently has a consensus rating of Hold and an average price target of $18.09.

NETSTREIT Stock Down 0.7 %

Shares of NTST traded down $0.12 during midday trading on Monday, hitting $16.74. The company had a trading volume of 586,595 shares, compared to its average volume of 936,811. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.30 and a current ratio of 4.30. NETSTREIT has a 1 year low of $13.49 and a 1 year high of $18.97. The firm has a market capitalization of $1.23 billion, a P/E ratio of 187.35, a P/E/G ratio of 10.33 and a beta of 0.97. The company’s 50-day simple moving average is $16.86 and its 200-day simple moving average is $17.30.

Insider Activity

In related news, Director Todd Minnis sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $17.86, for a total transaction of $111,625.00. Following the transaction, the director now owns 10,359 shares of the company’s stock, valued at $185,011.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

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.