NETSTREIT (NYSE:NTST) Posts Quarterly Earnings Results, Misses Estimates By $0.37 EPS

NETSTREIT (NYSE:NTST) posted its quarterly earnings results on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.37), Zacks reports. The firm had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.36%. During the same quarter in the prior year, the business earned $0.31 EPS. NETSTREIT updated its FY 2024 guidance to 1.260-1.270 EPS.

NETSTREIT Stock Performance

NYSE NTST opened at $15.83 on Thursday. NETSTREIT has a 1 year low of $14.92 and a 1 year high of $18.97. The firm has a market capitalization of $1.22 billion, a P/E ratio of -263.71 and a beta of 0.97. The firm’s fifty day moving average price is $16.27 and its two-hundred day moving average price is $16.62. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.31%. NETSTREIT’s dividend payout ratio is presently -1,399.77%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NTST shares. Stifel Nicolaus dropped their price target on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Wedbush assumed coverage on NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. UBS Group started coverage on shares of NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Scotiabank reduced their price objective on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.11.

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.