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

NETSTREIT (NYSE:NTST) posted its quarterly earnings results 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. The company had revenue of $41.44 million during the quarter, compared to analysts’ expectations of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.36%. During the same quarter 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 0.4 %

Shares of NYSE NTST traded down $0.07 during mid-day trading on Wednesday, hitting $15.83. The company had a trading volume of 1,724,584 shares, compared to its average volume of 1,012,792. 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. The business’s 50-day simple moving average is $16.27 and its 200 day simple moving average is $16.62.

NETSTREIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.31%. The ex-dividend date is Monday, December 2nd. NETSTREIT’s payout ratio is currently -1,399.77%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NTST. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. UBS Group began coverage on NETSTREIT in a research report on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective for the company. Wedbush began coverage on NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. Scotiabank lowered their price objective on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus lowered their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.