NETSTREIT (NYSE:NTST) Issues Quarterly Earnings Results, Misses Expectations By $0.33 EPS

NETSTREIT (NYSE:NTST) posted its quarterly earnings data on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33), Zacks reports. The firm had revenue of $39.57 million during the quarter, compared to the consensus estimate of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same quarter last year, the company posted $0.30 EPS. NETSTREIT updated its FY24 guidance to $1.25-1.28 EPS and its FY 2024 guidance to 1.250-1.280 EPS.

NETSTREIT Stock Performance

NTST stock traded down $0.40 on Wednesday, hitting $16.47. The company had a trading volume of 1,034,678 shares, compared to its average volume of 943,772. The stock’s 50-day simple moving average is $16.82 and its 200 day simple moving average is $17.28. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 187.47, a P/E/G ratio of 10.26 and a beta of 0.97. NETSTREIT has a 12-month low of $13.49 and a 12-month high of $18.97. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 0.55.

NETSTREIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.10%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 3rd. NETSTREIT’s payout ratio is presently 911.21%.

Analysts Set New Price Targets

Separately, Scotiabank upped their price objective on shares of NETSTREIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.09.

Insider Activity at NETSTREIT

In other NETSTREIT news, Director Todd Minnis sold 6,250 shares of NETSTREIT stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $17.86, for a total value of $111,625.00. Following the sale, the director now directly owns 10,359 shares in the company, valued at approximately $185,011.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.