NETSTREIT (NYSE:NTST) Releases Earnings Results, Misses Expectations By $0.37 EPS

NETSTREIT (NYSE:NTST) announced its quarterly earnings data on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37), Zacks reports. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. The firm had revenue of $41.44 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same period last year, the company earned $0.31 earnings per share. NETSTREIT updated its FY 2024 guidance to 1.260-1.270 EPS.

NETSTREIT Trading Down 0.9 %

Shares of NETSTREIT stock traded down $0.15 during trading on Wednesday, hitting $15.74. The stock had a trading volume of 684,481 shares, compared to its average volume of 1,008,008. The firm’s fifty day simple moving average is $16.30 and its 200-day simple moving average is $16.63. The stock has a market cap of $1.22 billion, a PE ratio of 227.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08. NETSTREIT has a 12 month low of $14.92 and a 12 month high of $18.97.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.34%. NETSTREIT’s dividend payout ratio (DPR) is presently 1,200.00%.

Analyst Upgrades and Downgrades

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