NETSTREIT (NYSE:NTST) Posts Quarterly Earnings Results, Misses Estimates By $0.33 EPS

NETSTREIT (NYSE:NTST) issued its earnings results on Monday. The company reported ($0.03) earnings per share (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 firm had revenue of $39.57 million during the quarter, compared to the consensus estimate of $39.31 million. During the same quarter in the prior year, the business posted $0.30 EPS. NETSTREIT updated its FY24 guidance to $1.25-1.28 EPS and its FY 2024 guidance to 1.250-1.280 EPS.

NETSTREIT Stock Down 0.1 %

NETSTREIT stock traded down $0.02 on Tuesday, hitting $16.73. 27,643 shares of the stock traded hands, compared to its average volume of 932,401. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.23 billion, a P/E ratio of 186.58, a price-to-earnings-growth ratio of 10.33 and a beta of 0.97. The business’s fifty day simple moving average is $16.84 and its 200 day simple moving average is $17.29. NETSTREIT has a 1 year low of $13.49 and a 1 year high of $18.97.

Insider Buying and Selling at NETSTREIT

In other NETSTREIT news, Director Todd Minnis sold 6,250 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $17.86, for a total transaction of $111,625.00. Following the completion of the transaction, the director now owns 10,359 shares of the company’s stock, valued at $185,011.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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