NETSTREIT Corp. Plans Quarterly Dividend of $0.21 (NYSE:NTST)

NETSTREIT Corp. (NYSE:NTST) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.21 per share on Monday, March 31st. This represents a $0.84 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend is Friday, March 14th.

NETSTREIT has increased its dividend by an average of 37.1% per year over the last three years. NETSTREIT has a payout ratio of 229.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect NETSTREIT to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 64.5%.

NETSTREIT Stock Up 4.1 %

NYSE:NTST traded up $0.58 during trading hours on Tuesday, reaching $14.81. 1,643,713 shares of the company traded hands, compared to its average volume of 817,745. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $14.19 and its two-hundred day moving average price is $15.44. NETSTREIT has a 1 year low of $13.42 and a 1 year high of $18.97. The stock has a market capitalization of $1.21 billion, a P/E ratio of -246.79 and a beta of 1.00.

Analyst Upgrades and Downgrades

NTST has been the subject of several recent analyst reports. Capital One Financial assumed coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. Truist Financial decreased their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Stifel Nicolaus cut their price target on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Mizuho decreased their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $16.00 to $18.00 in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $17.75.

NETSTREIT Company Profile

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.