NETSTREIT Corp. (NYSE:NTST) to Issue Dividend Increase - $0.22 Per Share

NETSTREIT Corp. (NYSE:NTST - Get Free Report) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 0.215 per share on Monday, September 15th. This represents a $0.86 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Tuesday, September 2nd. This is a 2.4% increase from NETSTREIT's previous quarterly dividend of $0.21.

NETSTREIT has a payout ratio of 289.7% meaning 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 $1.21 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 0.7%

NTST traded up $0.13 on Thursday, reaching $18.01. 2,197,356 shares of the company traded hands, compared to its average volume of 963,852. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.95 and a quick ratio of 3.95. NETSTREIT has a 52-week low of $13.42 and a 52-week high of $18.37. The stock's 50 day moving average price is $16.62 and its 200-day moving average price is $15.57. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -120.03, a PEG ratio of 5.22 and a beta of 0.89.

Institutional Investors Weigh In On NETSTREIT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in NETSTREIT by 343.1% in the first quarter. Royal Bank of Canada now owns 36,730 shares of the company's stock worth $582,000 after buying an additional 28,441 shares in the last quarter. Amundi increased its position in NETSTREIT by 1.6% during the 1st quarter. Amundi now owns 45,361 shares of the company's stock valued at $709,000 after buying an additional 704 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NETSTREIT by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,757 shares of the company's stock valued at $773,000 after buying an additional 4,501 shares in the last quarter. Jane Street Group LLC bought a new position in NETSTREIT during the 1st quarter valued at approximately $928,000. Finally, Goldman Sachs Group Inc. grew its position in NETSTREIT by 3.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 499,346 shares of the company's stock worth $7,915,000 after purchasing an additional 17,188 shares during the period.

Wall Street Analysts Forecast Growth

NTST has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of NETSTREIT in a report on Friday, May 23rd. 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 price objective for the company. UBS Group increased their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Robert W. Baird increased their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $18.47.

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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