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

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

NETSTREIT has increased 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. Research 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 Stock Performance

NETSTREIT stock traded up $0.81 during trading on Tuesday, hitting $15.90. The stock had a trading volume of 2,282,954 shares, compared to its average volume of 1,009,400. The stock’s 50 day moving average is $16.30 and its two-hundred day moving average is $16.63. NETSTREIT has a 1 year low of $14.92 and a 1 year high of $18.97. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 227.00 and a beta of 0.97. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NTST. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Scotiabank reduced their target price on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Wedbush assumed coverage on shares of NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday. Finally, UBS Group began coverage on NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.