NETSTREIT Corp. Plans Quarterly Dividend of $0.21 (NYSE:NTST)

NETSTREIT Corp. (NYSE:NTST) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 5.67%. 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 229.4% 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 $0.78 annual dividend with an expected future payout ratio of 64.5%.

NETSTREIT Stock Performance

NYSE NTST traded up $0.58 during trading hours on Tuesday, hitting $14.81. The company had a trading volume of 1,643,713 shares, compared to its average volume of 817,745. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.21 billion, a P/E ratio of -246.79 and a beta of 1.00. NETSTREIT has a fifty-two week low of $13.42 and a fifty-two week high of $18.97. The business has a fifty day simple moving average of $14.19 and a 200-day simple moving average of $15.44.

Analysts Set New Price Targets

A number of research firms recently weighed in on NTST. Raymond James dropped their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Truist Financial dropped their price target on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Capital One Financial initiated coverage on NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, Mizuho cut their target price on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $17.75.

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.