NETSTREIT (NYSE:NTST) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

NETSTREIT (NYSE:NTST - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01, Zacks reports. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%.

NETSTREIT Trading Down 0.1 %

Shares of NYSE:NTST traded down $0.01 during trading on Monday, reaching $15.61. The stock had a trading volume of 1,251,820 shares, compared to its average volume of 918,460. NETSTREIT has a 52 week low of $13.42 and a 52 week high of $18.10. The firm's fifty day moving average is $15.29 and its 200 day moving average is $15.12. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -260.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.21 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.38%. NETSTREIT's dividend payout ratio (DPR) is currently -525.00%.

Wall Street Analyst Weigh In

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

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of the stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $15.33 per share, with a total value of $97,866.72. Following the transaction, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. The trade was a 2.14 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought a total of 12,000 shares of company stock worth $183,172 over the last quarter. Company insiders own 0.58% of the company's stock.

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.

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