NETSTREIT (NYSE:NTST) Issues Earnings Results

NETSTREIT (NYSE:NTST) released its earnings results on Monday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.33), Zacks reports. NETSTREIT had a return on equity of 0.52% and a net margin of 4.57%. The company had revenue of $39.57 million during the quarter, compared to the consensus estimate of $39.31 million. During the same period last year, the firm posted $0.30 earnings per share. NETSTREIT updated its FY24 guidance to $1.25-1.28 EPS and its FY 2024 guidance to 1.250-1.280 EPS.

NETSTREIT Price Performance

NYSE NTST opened at $16.79 on Tuesday. NETSTREIT has a one year low of $13.49 and a one year high of $18.97. The stock has a 50-day moving average of $16.84 and a 200 day moving average of $17.29. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.30 and a current ratio of 4.30. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 186.58, a PEG ratio of 10.33 and a beta of 0.97.

Insiders Place Their Bets

In other news, Director Todd Minnis sold 6,250 shares of NETSTREIT stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $17.86, for a total value of $111,625.00. Following the completion of the sale, the director now directly owns 10,359 shares in the company, valued at $185,011.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upped their price target on shares of NETSTREIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, NETSTREIT currently has an average rating of “Hold” and an average target price of $18.09.

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.