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

NETSTREIT Corp. (NYSE:NTST) announced a quarterly dividend on Monday, November 4th,NASDAQ Dividends reports. Investors of record on Monday, December 2nd will be given a dividend of 0.21 per share on Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Monday, December 2nd.

NETSTREIT has raised its dividend payment by an average of 354.1% per year over the last three years. NETSTREIT has a dividend payout ratio of 240.0% 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 $1.24 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 67.7%.

NETSTREIT Trading Down 0.7 %

Shares of NTST stock opened at $16.21 on Friday. NETSTREIT has a fifty-two week low of $15.02 and a fifty-two week high of $18.97. The firm’s 50 day moving average price is $15.98 and its two-hundred day moving average price is $16.47. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -270.12 and a beta of 0.97. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT (NYSE:NTST) last posted its earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.37). NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. The business had revenue of $41.44 million for the quarter, compared to analyst estimates of $41.10 million. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, analysts anticipate that NETSTREIT will post 1.19 EPS for the current year.

Analyst Upgrades and Downgrades

NTST has been the subject of a number of recent research reports. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Stifel Nicolaus lowered their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. UBS Group assumed coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 target price on the stock. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. Finally, Wedbush started coverage on shares of NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

NETSTREIT Company Profile

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.