NETSTREIT Corp. (NTST) to Issue Quarterly Dividend of $0.21 on March 31st

NETSTREIT Corp. (NYSE:NTST) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.21 per share on Monday, March 31st. This represents a $0.84 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date is Friday, March 14th.

NETSTREIT has raised its dividend by an average of 37.1% per year over the last three years. NETSTREIT has a dividend 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 $1.21 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 69.4%.

NETSTREIT Stock Down 2.0 %

Shares of NYSE NTST opened at $14.92 on Wednesday. The stock has a market capitalization of $1.22 billion, a P/E ratio of -248.61 and a beta of 0.99. NETSTREIT has a one year low of $13.42 and a one year high of $18.97. The firm’s 50 day simple moving average is $14.37 and its two-hundred day simple moving average is $15.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Capital One Financial assumed coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Mizuho decreased their price objective on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Raymond James dropped their target price on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, January 17th. Finally, Truist Financial dropped their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $17.75.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer bought 3,616 shares of NETSTREIT stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the acquisition, the chief executive officer now owns 295,252 shares of the company’s stock, valued at approximately $4,493,735.44. The trade was a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased 5,616 shares of company stock worth $85,306 over the last 90 days. 0.46% of the stock is owned by company insiders.

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.