NETSTREIT Corp. (NTST) to Issue Quarterly Dividend of $0.21 on December 13th

NETSTREIT Corp. (NYSE:NTST) declared a quarterly dividend on Monday, November 4th,NASDAQ Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 5.18%. The ex-dividend date 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. Equities 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 Stock Performance

NYSE:NTST opened at $16.21 on Friday. NETSTREIT has a twelve month low of $15.02 and a twelve month high of $18.97. The company has a market capitalization of $1.32 billion, a P/E ratio of -270.12 and a beta of 0.97. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $15.98 and a two-hundred day moving average price of $16.47.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The business had revenue of $41.44 million for the quarter, compared to analysts’ expectations of $41.10 million. During the same period last year, the business earned $0.31 earnings per share. As a group, research analysts expect that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.