NETSTREIT Corp. (NYSE:NTST) Declares Dividend Increase – $0.22 Per Share

NETSTREIT Corp. (NYSE:NTST) announced a quarterly dividend on Thursday, February 5th. Stockholders of record on Monday, March 16th will be paid a dividend of 0.22 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, March 16th. This is a 2.3% increase from NETSTREIT’s previous quarterly dividend of $0.22.

NETSTREIT has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. NETSTREIT has a payout ratio of 303.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect NETSTREIT to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 72.7%.

NETSTREIT Stock Performance

Shares of NYSE:NTST opened at $20.26 on Friday. NETSTREIT has a 1 year low of $14.00 and a 1 year high of $21.30. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 225.14, a price-to-earnings-growth ratio of 3.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.12 and a quick ratio of 3.12. The company’s 50 day simple moving average is $19.29 and its 200 day simple moving average is $18.55.

NETSTREIT (NYSE:NTST) last issued its earnings results on Tuesday, February 10th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.31). NETSTREIT had a net margin of 3.54% and a return on equity of 0.51%. The business had revenue of $52.50 million during the quarter, compared to analyst estimates of $50.98 million. As a group, research analysts predict that NETSTREIT will post 1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NTST. BTIG Research lifted their target price on NETSTREIT from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Scotiabank upped their price objective on shares of NETSTREIT from $21.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 2nd. Cantor Fitzgerald raised their target price on shares of NETSTREIT from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of NETSTREIT in a report on Monday, December 29th. Finally, Mizuho raised their price objective on NETSTREIT from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.42.

NETSTREIT Company Profile

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.