NETSTREIT (NYSE:NTST) Posts Quarterly Earnings Results, Misses Estimates By $0.33 EPS

NETSTREIT (NYSE:NTST) issued 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. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. The business had revenue of $39.57 million during the quarter, compared to the consensus estimate of $39.31 million. During the same period last year, the company earned $0.30 earnings per share. NETSTREIT updated its FY24 guidance to $1.25-1.28 EPS and its FY 2024 guidance to 1.250-1.280 EPS.

NETSTREIT Price Performance

NYSE:NTST traded down $0.07 during trading hours on Wednesday, reaching $16.80. The company had a trading volume of 128,205 shares, compared to its average volume of 937,563. NETSTREIT has a one year low of $13.49 and a one year high of $18.97. The firm has a market capitalization of $1.23 billion, a PE ratio of 187.47, a PEG ratio of 10.26 and a beta of 0.97. The stock has a 50-day moving average of $16.82 and a two-hundred day moving average of $17.28. The company has a quick ratio of 4.30, a current 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 paid a $0.21 dividend. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Tuesday, September 3rd. NETSTREIT’s dividend payout ratio is currently 911.21%.

Analyst Ratings Changes

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

Insider Buying and Selling at NETSTREIT

In other NETSTREIT news, Director Todd Minnis sold 6,250 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $17.86, for a total value of $111,625.00. Following the transaction, the director now owns 10,359 shares of the company’s stock, valued at $185,011.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

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.