NETSTREIT (NYSE:NTST) Issues FY 2024 Earnings Guidance

NETSTREIT (NYSE:NTST) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 1.260-1.270 for the period, compared to the consensus EPS estimate of 1.240. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of equities analysts have recently commented on NTST shares. Scotiabank cut their target price on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. UBS Group started coverage on shares of NETSTREIT in a research note on Monday, October 14th. They issued a “buy” rating and a $19.00 target price on the stock. Stifel Nicolaus cut their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday. Wedbush began 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. Finally, Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price target for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.11.

NETSTREIT Price Performance

Shares of NTST stock traded up $0.18 during midday trading on Thursday, reaching $16.00. 496,568 shares of the company were exchanged, compared to its average volume of 1,010,212. NETSTREIT has a 12 month low of $14.92 and a 12 month high of $18.97. The company has a market cap of $1.24 billion, a P/E ratio of -263.71 and a beta of 0.97. The company’s 50 day moving average price is $16.27 and its two-hundred day moving average price is $16.62. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.08 and a current ratio of 4.08.

NETSTREIT (NYSE:NTST) last released its earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). NETSTREIT had a negative return on equity of 0.36% and a negative net margin of 2.96%. The business had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, sell-side analysts expect that NETSTREIT will post 1.19 earnings per share for the current year.

NETSTREIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.25%. NETSTREIT’s dividend payout ratio is currently -1,399.77%.

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.