NETSTREIT (NYSE:NTST) Issues FY24 Earnings Guidance

NETSTREIT (NYSE:NTST) 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.

NETSTREIT Stock Performance

Shares of NTST traded down $0.30 during mid-day trading on Thursday, reaching $16.17. The company had a trading volume of 865,362 shares, compared to its average volume of 942,818. The stock has a 50 day moving average of $16.80 and a two-hundred day moving average of $17.27. The company has a quick ratio of 4.30, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.25 billion, a P/E ratio of 183.02, a PEG ratio of 10.34 and a beta of 0.97. NETSTREIT has a 52-week low of $13.49 and a 52-week high of $18.97.

NETSTREIT (NYSE:NTST) 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.