NETSTREIT Corp. (NYSE:NTST) to Issue Quarterly Dividend of $0.22

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 4.66%. The ex-dividend date of this dividend 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. 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 Performance

NYSE NTST traded up $0.06 during trading hours on Monday, reaching $18.45. 2,263,177 shares of the company were exchanged, compared to its average volume of 1,404,067. NETSTREIT has a 1 year low of $13.42 and a 1 year high of $18.77. The business's 50 day simple moving average is $16.77 and its 200-day simple moving average is $15.69. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.54 billion, a P/E ratio of -230.63 and a beta of 0.89.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. UBS Group raised 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. Truist Financial set a $19.00 target price on shares of NETSTREIT in a research report on Friday. Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $18.00 to $19.00 in a research note on Monday. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a report on Monday, April 7th. They set an "overweight" rating and a $18.00 target price on the stock. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of NETSTREIT in a research note on Friday, May 23rd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $18.53.

Institutional Investors Weigh In On NETSTREIT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of NETSTREIT during the first quarter worth about $928,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NETSTREIT by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 567,532 shares of the company's stock valued at $8,995,000 after acquiring an additional 42,121 shares during the period. Goldman Sachs Group Inc. lifted its holdings in NETSTREIT by 3.6% in the first quarter. Goldman Sachs Group Inc. now owns 499,346 shares of the company's stock valued at $7,915,000 after acquiring an additional 17,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NETSTREIT by 10.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,757 shares of the company's stock valued at $773,000 after acquiring an additional 4,501 shares during the period. Finally, Amundi lifted its holdings in NETSTREIT by 1.6% in the first quarter. Amundi now owns 45,361 shares of the company's stock valued at $709,000 after acquiring an additional 704 shares during the period.

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.