NETSTREIT Corp. (NYSE:NTST) to Issue $0.21 Quarterly Dividend

NETSTREIT Corp. (NYSE:NTST) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend 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 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 NTST opened at $14.81 on Wednesday. The stock’s 50-day moving average price is $14.19 and its 200 day moving average price is $15.44. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm 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 12-month low of $13.42 and a 12-month high of $18.97.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTST. Mizuho lowered their price target on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Capital One Financial initiated coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their price target 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. Finally, Truist Financial cut their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.75.

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.