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

NETSTREIT Corp. (NYSE:NTST) declared a quarterly dividend on Monday, November 4th,NASDAQ Dividends reports. Investors of record on Monday, December 2nd will be paid 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 increased its dividend payment by an average of 354.1% per year over the last three years. NETSTREIT has a 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. 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 %

NYSE NTST opened at $16.21 on Friday. NETSTREIT has a 52 week low of $15.02 and a 52 week high of $18.97. The stock’s 50 day moving average price is $15.98 and its two-hundred day moving average price is $16.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data 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). The company 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 0.35%. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, research analysts forecast that NETSTREIT will post 1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NTST has been the subject of several analyst reports. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Stifel Nicolaus cut their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Wedbush began coverage on NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price target on the stock. UBS Group began coverage on NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 target price for the company. Finally, Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Three investment 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 an average target price 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.