NETSTREIT (NYSE:NTST) Releases Earnings Results, Misses Expectations By $0.31 EPS

NETSTREIT (NYSE:NTST) announced its earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.31), FiscalAI reports. NETSTREIT had a net margin of 0.10% and a return on equity of 0.01%. The firm had revenue of $52.50 million during the quarter, compared to analyst estimates of $50.98 million.

NETSTREIT Trading Up 1.5%

NETSTREIT stock traded up $0.28 during trading hours on Tuesday, reaching $19.31. 1,154,597 shares of the company’s stock were exchanged, compared to its average volume of 1,314,318. The firm’s 50 day simple moving average is $17.92 and its 200 day simple moving average is $18.25. NETSTREIT has a twelve month low of $13.74 and a twelve month high of $19.65. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1.61 billion, a PE ratio of -1,931,100.00, a PEG ratio of 3.90 and a beta of 0.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Berenberg Bank started coverage on shares of NETSTREIT in a report on Monday, October 13th. They set a “buy” rating and a $22.00 target price on the stock. Mizuho cut their price target on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, December 17th. Scotiabank reiterated an “outperform” rating on shares of NETSTREIT in a research report on Monday, February 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of NETSTREIT in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NETSTREIT in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.45.

Institutional Investors Weigh In On NETSTREIT

A number of hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company’s stock valued at $30,000 after buying an additional 1,640 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of NETSTREIT by 39.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,299 shares of the company’s stock valued at $132,000 after acquiring an additional 2,051 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in shares of NETSTREIT during the 3rd quarter valued at $159,000. CIBC Bancorp USA Inc. acquired a new position in shares of NETSTREIT during the 3rd quarter valued at $183,000. Finally, Bayesian Capital Management LP bought a new position in NETSTREIT during the second quarter worth $185,000.

NETSTREIT Company Profile

NetSTREIT Corp. is a real estate investment trust that specializes in the acquisition and management of single‐tenant, net lease retail properties across the United States. The company targets assets leased to investment‐grade or creditworthy tenants under long‐term, triple‐net leases, which generally shift property‐level expenses—such as taxes, insurance and maintenance—to the tenant. This business model is designed to generate predictable, stable income streams and to limit landlord responsibilities.

NetSTREIT’s portfolio encompasses a diversified mix of essential retail and service properties, including quick‐service restaurants, convenience stores, banks, automotive service centers and medical clinics.