NETSTREIT (NYSE:NTST) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

NETSTREIT (NYSE:NTST) issued its earnings results on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01), FiscalAI reports. The company had revenue of $66.26 million for the quarter, compared to the consensus estimate of $60.55 million. NETSTREIT had a return on equity of 0.95% and a net margin of 6.35%.

NETSTREIT Stock Down 3.4%

Shares of NETSTREIT stock traded down $0.57 during trading hours on Wednesday, reaching $16.48. The company’s stock had a trading volume of 1,980,115 shares, compared to its average volume of 1,654,736. NETSTREIT has a one year low of $16.41 and a one year high of $22.47. The company has a market capitalization of $1.67 billion, a P/E ratio of 109.84, a P/E/G ratio of 2.18 and a beta of 0.80. The stock’s fifty day simple moving average is $19.00 and its two-hundred day simple moving average is $20.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.54 and a current ratio of 3.55.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NTST shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of NETSTREIT in a report on Friday, August 7th. Robert W. Baird raised their target price on NETSTREIT from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Scotiabank decreased their target price on NETSTREIT from $22.00 to $20.00 and set a “sector outperform” rating for the company in a research report on Thursday, September 24th. BMO Capital Markets upped their price target on NETSTREIT from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Finally, Mizuho dropped their price target on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NETSTREIT has a consensus rating of “Moderate Buy” and an average price target of $22.46.

NETSTREIT Company Profile

NETSTREIT Corp. is a real estate investment trust focused on owning and managing outpatient healthcare properties in the United States. The company invests primarily in facilities that provide essential medical services, including physician offices, ambulatory care centers and other outpatient healthcare locations.

NETSTREIT generally leases its properties to healthcare providers under long-term, triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property taxes, insurance and maintenance expenses.