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

NETSTREIT Corp. (NYSE:NTST - Get Free Report) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.21 per share on Monday, March 31st. This represents a $0.84 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Friday, March 14th.

NETSTREIT has increased its dividend by an average of 37.1% per year over the last three years. NETSTREIT has a dividend payout ratio of 247.1% indicating that 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 $1.21 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 69.4%.

NETSTREIT Price Performance

Shares of NTST traded up $0.08 during mid-day trading on Friday, hitting $14.98. 1,359,841 shares of the company traded hands, compared to its average volume of 832,142. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -249.54 and a beta of 1.00. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average of $14.24 and a 200 day moving average of $15.42. NETSTREIT has a one year low of $13.42 and a one year high of $18.97.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NTST shares. Capital One Financial started coverage on NETSTREIT in a report on Wednesday, February 12th. They issued an "overweight" rating on the stock. Mizuho reduced their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 8th. Scotiabank raised shares of NETSTREIT from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Stifel Nicolaus reduced their price target on NETSTREIT from $19.50 to $19.25 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Finally, Raymond James reduced their price target on NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating on the stock in a research report on Friday, January 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $17.75.

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NETSTREIT Company Profile

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.