NETSTREIT (NYSE:NTST) Posts Earnings Results, Misses Expectations By $0.01 EPS

NETSTREIT (NYSE:NTST) posted its quarterly earnings data on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01), FiscalAI reports. The company had revenue of $66.26 million for the quarter, compared to the consensus estimate of $60.55 million. NETSTREIT had a return on equity of 0.95% and a net margin of 6.35%.

NETSTREIT Trading Down 3.4%

Shares of NTST stock opened at $16.48 on Thursday. The company has a current ratio of 3.55, a quick ratio of 3.54 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 109.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. NETSTREIT has a 12-month low of $16.41 and a 12-month high of $22.47. The stock’s 50-day moving average price is $18.92 and its 200-day moving average price is $20.06.

NETSTREIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.2250 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, December 1st. NETSTREIT’s payout ratio is currently 600.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NTST shares. Stifel Nicolaus boosted their price objective on shares of NETSTREIT from $22.25 to $23.50 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Wells Fargo & Company dropped their target price on shares of NETSTREIT from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday. Scotiabank dropped their target price on shares of NETSTREIT from $22.00 to $20.00 and set a “sector outperform” rating for the company in a report on Thursday, September 24th. Mizuho cut their target price on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, BMO Capital Markets boosted their price target on NETSTREIT from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.46.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust focused on owning and managing outpatient healthcare properties in the United States. The company invests primarily in facilities that provide essential medical services, including physician offices, ambulatory care centers and other outpatient healthcare locations.

NETSTREIT generally leases its properties to healthcare providers under long-term, triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property taxes, insurance and maintenance expenses.