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

by · The Cerbat Gem

NETSTREIT Corp. (NYSE:NTST – Get Free Report) announced a quarterly dividend on Monday, November 4th, NASDAQ reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.21 per share on Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Monday, December 2nd.

NETSTREIT has raised its dividend 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 research 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 Price Performance

Shares of NYSE NTST traded up $0.81 during midday trading on Tuesday, reaching $15.90. The stock had a trading volume of 2,282,954 shares, compared to its average volume of 1,009,400. The stock has a 50-day moving average of $16.30 and a 200-day moving average of $16.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.08 and a current ratio of 4.08. NETSTREIT has a 12-month low of $14.92 and a 12-month high of $18.97. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 227.00 and a beta of 0.97.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group started coverage on shares of NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target on the stock. Scotiabank decreased their target price on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. Stifel Nicolaus decreased their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush began coverage on shares of NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.11.

Check Out Our Latest Research Report on NTST

About NETSTREIT

(Get Free Report)

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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