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

NETSTREIT (NYSE:NTST) announced its earnings results on Monday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $41.44 million for the quarter, compared to analysts’ expectations of $41.10 million. During the same period in the previous year, the company earned $0.31 earnings per share. NETSTREIT updated its FY 2024 guidance to 1.260-1.270 EPS.

NETSTREIT Stock Performance

NYSE:NTST traded down $0.10 during trading hours on Wednesday, reaching $15.79. 775,400 shares of the company’s stock were exchanged, compared to its average volume of 1,008,431. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 227.14 and a beta of 0.97. The company has a 50-day moving average of $16.30 and a 200 day moving average of $16.63. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. NETSTREIT has a 1-year low of $14.92 and a 1-year high of $18.97.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date is Monday, December 2nd. NETSTREIT’s dividend payout ratio is currently 1,200.00%.

Analyst Ratings Changes

NTST has been the topic of several recent research reports. UBS Group initiated coverage on shares of NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 target price on the stock. Scotiabank dropped their price objective on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Wedbush initiated coverage on shares of NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Stifel Nicolaus dropped their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $20.00 to $19.00 in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NETSTREIT currently has a consensus rating of “Moderate Buy” and an average 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.