Zacks: Brokerages Anticipate NETSTREIT Corp. (NYSE:NTST) Will Post Quarterly Sales of $14.55 Million

Brokerages forecast that NETSTREIT Corp. (NYSE:NTST) will post sales of $14.55 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for NETSTREIT’s earnings, with estimates ranging from $11.97 million to $16.80 million. NETSTREIT posted sales of $9.65 million during the same quarter last year, which suggests a positive year over year growth rate of 50.8%. The business is scheduled to issue its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that NETSTREIT will report full year sales of $55.33 million for the current year, with estimates ranging from $47.83 million to $61.50 million. For the next year, analysts expect that the company will post sales of $73.98 million, with estimates ranging from $48.19 million to $102.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow NETSTREIT.

NETSTREIT (NYSE:NTST) last issued its quarterly earnings results on Wednesday, July 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.26). NETSTREIT had a net margin of 1.27% and a return on equity of 0.10%.

Several research firms recently commented on NTST. Truist boosted their price target on NETSTREIT from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, August 23rd. Truist Securities boosted their price target on shares of NETSTREIT from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, August 23rd. KeyCorp lifted their price objective on shares of NETSTREIT from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, July 15th. BTIG Research lifted their target price on shares of NETSTREIT from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, August 17th. Finally, Wolfe Research assumed coverage on shares of NETSTREIT in a research report on Monday, June 14th. They set an “outperform” rating on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $27.00.

Several large investors have recently bought and sold shares of NTST. The Manufacturers Life Insurance Company bought a new position in NETSTREIT in the 1st quarter worth approximately $246,000. Victory Capital Management Inc. raised its position in NETSTREIT by 1.4% in the 1st quarter. Victory Capital Management Inc. now owns 51,013 shares of the company’s stock worth $943,000 after purchasing an additional 686 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in NETSTREIT in the 1st quarter worth approximately $321,000. Los Angeles Capital Management LLC bought a new position in NETSTREIT in the 1st quarter worth approximately $462,000. Finally, Alliancebernstein L.P. raised its position in NETSTREIT by 10.9% in the 1st quarter. Alliancebernstein L.P. now owns 314,573 shares of the company’s stock worth $5,816,000 after purchasing an additional 30,860 shares during the last quarter. Institutional investors own 94.33% of the company’s stock.

NYSE:NTST traded up $0.38 during mid-day trading on Friday, reaching $25.50. The company’s stock had a trading volume of 780 shares, compared to its average volume of 357,925. The company has a debt-to-equity ratio of 0.25, a current ratio of 13.09 and a quick ratio of 13.09. The stock has a market cap of $1.01 billion and a P/E ratio of -2,512.00. The company’s fifty day simple moving average is $25.57 and its two-hundred day simple moving average is $22.57. NETSTREIT has a twelve month low of $16.63 and a twelve month high of $26.92.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, August 31st. NETSTREIT’s dividend payout ratio (DPR) is currently 115.94%.

About NETSTREIT

NETSTREIT 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.

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Earnings History and Estimates for NETSTREIT (NYSE:NTST)

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