NETSTREIT (NYSE:NTST - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01, Zacks reports. NETSTREIT had a negative return on equity of 0.43% and a negative net margin of 3.19%. The company had revenue of $45.16 million for the quarter, compared to the consensus estimate of $45.24 million. NETSTREIT updated its FY 2025 guidance to 1.290-1.310 EPS.
NETSTREIT Stock Up 1.1%
Shares of NTST stock traded up $0.20 during trading hours on Friday, reaching $18.19. 2,504,147 shares of the company's stock were exchanged, compared to its average volume of 974,620. The stock's 50 day moving average is $16.67 and its 200-day moving average is $15.60. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -227.31, a P/E/G ratio of 5.20 and a beta of 0.89. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 0.69. NETSTREIT has a fifty-two week low of $13.42 and a fifty-two week high of $18.37.
NETSTREIT Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a yield of 4.73%. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio is currently -560.00%.
Hedge Funds Weigh In On NETSTREIT
Large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in shares of NETSTREIT by 343.1% during the first quarter. Royal Bank of Canada now owns 36,730 shares of the company's stock worth $582,000 after purchasing an additional 28,441 shares in the last quarter. Amundi increased its position in shares of NETSTREIT by 1.6% during the first quarter. Amundi now owns 45,361 shares of the company's stock worth $709,000 after purchasing an additional 704 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NETSTREIT by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,757 shares of the company's stock worth $773,000 after purchasing an additional 4,501 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of NETSTREIT during the first quarter worth $928,000. Finally, Goldman Sachs Group Inc. increased its position in shares of NETSTREIT by 3.6% during the first 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 in the last quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Wells Fargo & Company initiated coverage on NETSTREIT in a research report on Monday, April 7th. They set an "overweight" rating and a $18.00 price target on the stock. UBS Group boosted their target price on NETSTREIT from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Mizuho boosted their price target on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, April 3rd. Robert W. Baird upped their price target on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of NETSTREIT in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.47.
Read Our Latest Stock Analysis on NETSTREIT
About NETSTREIT
(
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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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