NETSTREIT Corp. (NYSE:NTST) Increases Dividend to $0.21 Per Share

NETSTREIT Corp. (NYSE:NTST) declared a quarterly dividend on Tuesday, July 23rd, Wall Street Journal reports. Shareholders of record on Tuesday, September 3rd will be paid a dividend of 0.21 per share on Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 5.03%. The ex-dividend date is Tuesday, September 3rd. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21.

NETSTREIT has increased its dividend payment by an average of 354.1% annually over the last three years. NETSTREIT has a payout ratio of 254.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect NETSTREIT to earn $1.24 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 67.7%.

NETSTREIT Stock Performance

Shares of NETSTREIT stock opened at $16.69 on Monday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 185.47 and a beta of 0.97. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. NETSTREIT has a twelve month low of $13.49 and a twelve month high of $18.97. The company’s fifty day moving average is $16.41 and its 200 day moving average is $16.97.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.33). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The company had revenue of $39.57 million during the quarter, compared to analyst estimates of $39.31 million. During the same period in the previous year, the company posted $0.30 EPS. Sell-side analysts forecast that NETSTREIT will post 1.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NTST shares. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Wedbush initiated coverage on NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Finally, Scotiabank cut their price objective on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.88.

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.