NETSTREIT (NYSE:NTST) Issues Quarterly Earnings Results

Key Points

• NETSTREIT reported quarterly EPS of $0.08, missing the $0.09 analyst consensus, while revenue of $66.26 million exceeded estimates of $60.55 million.
• Shares fell 3.4% to $16.48, near the company’s 52-week low of $16.41, following the earnings report.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $22.46 versus the current share price.

NETSTREIT (NYSE:NTST - Get Free Report) posted its earnings results on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01), FiscalAI reports. NETSTREIT had a return on equity of 0.95% and a net margin of 6.35%. The business had revenue of $66.26 million for the quarter, compared to analyst estimates of $60.55 million.

NETSTREIT Stock Down 3.4%

Shares of NYSE NTST traded down $0.57 during midday trading on Wednesday, hitting $16.48. The company's stock had a trading volume of 1,980,115 shares, compared to its average volume of 1,654,735. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.55 and a quick ratio of 3.54. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 109.84, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80. The business's fifty day simple moving average is $19.00 and its two-hundred day simple moving average is $20.08. NETSTREIT has a 1 year low of $16.41 and a 1 year high of $22.47.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTST. Stifel Nicolaus raised their price objective on NETSTREIT from $22.25 to $23.50 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Mizuho decreased their target price on shares of NETSTREIT from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Monday. Truist Financial assumed coverage on shares of NETSTREIT in a research report on Thursday, October 1st. They issued a "buy" rating and a $21.00 target price on the stock. Robert W. Baird boosted their price target on shares of NETSTREIT from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of NETSTREIT in a report on Friday, August 7th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.46.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust focused on owning and managing outpatient healthcare properties in the United States. The company invests primarily in facilities that provide essential medical services, including physician offices, ambulatory care centers and other outpatient healthcare locations.

NETSTREIT generally leases its properties to healthcare providers under long-term, triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property taxes, insurance and maintenance expenses.

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