NETSTREIT (NYSE:NTST – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $1.25-1.28 for the period, compared to the consensus EPS estimate of $1.22. NETSTREIT also updated its FY 2024 guidance to 1.250-1.280 EPS.
Wall Street Analyst Weigh In
Separately, Scotiabank upped their price objective on NETSTREIT from $17.00 to $18.00 and gave the stock a sector perform rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $18.09.
Read Our Latest Stock Analysis on NTST
NETSTREIT Stock Performance
NETSTREIT (NYSE:NTST – Get Free Report) last posted its earnings results on Monday, July 29th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The business had revenue of $39.57 million for the quarter, compared to analyst estimates of $39.31 million. During the same quarter last year, the business earned $0.30 earnings per share. On average, analysts expect that NETSTREIT will post 1.18 earnings per share for the current year.
NETSTREIT Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is currently 911.21%.
Insider Buying and Selling
In other NETSTREIT news, Director Todd Minnis sold 6,250 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $17.86, for a total value of $111,625.00. Following the transaction, the director now directly owns 10,359 shares in the company, valued at approximately $185,011.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently 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.
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