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

NETSTREIT Corp. (NYSE:NTST - Get Free Report) announced a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Investors of record on Monday, June 2nd will be paid a dividend of 0.21 per share on Monday, June 16th. This represents a $0.84 annualized dividend and a yield of 5.27%. The ex-dividend date is Monday, June 2nd.

NETSTREIT has increased its dividend by an average of 37.1% per year over the last three years. NETSTREIT has a dividend payout ratio of 262.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect NETSTREIT to earn $1.21 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 69.4%.

NETSTREIT Stock Up 1.9 %

NYSE NTST traded up $0.30 during mid-day trading on Tuesday, reaching $15.95. The stock had a trading volume of 1,182,409 shares, compared to its average volume of 926,679. The company has a fifty day moving average price of $15.32 and a 200 day moving average price of $15.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. NETSTREIT has a 1 year low of $13.42 and a 1 year high of $18.10. The stock has a market cap of $1.30 billion, a PE ratio of -265.79 and a beta of 0.91.

NETSTREIT (NYSE:NTST - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $45.91 million during the quarter, compared to the consensus estimate of $44.21 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. On average, research analysts expect that NETSTREIT will post 1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NTST shares. Mizuho raised their price target on NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. Raymond James reduced their price target on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Friday, January 17th. Capital One Financial assumed coverage on shares of NETSTREIT in a report on Wednesday, February 12th. They issued an "overweight" rating on the stock. Finally, Wells Fargo & Company started coverage on shares of NETSTREIT in a report on Monday, April 7th. They set an "overweight" rating and a $18.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $18.03.

Insider Activity at NETSTREIT

In related news, CEO Mark Manheimer bought 3,616 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the transaction, the chief executive officer now owns 295,252 shares in the company, valued at $4,493,735.44. The trade was a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 12,000 shares of company stock valued at $183,172. 0.58% of the stock is owned by company insiders.

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.

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