NETSTREIT (NYSE:NTST – Get Free Report) announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $60.55 million. NETSTREIT had a net margin of 6.35% and a return on equity of 0.95%.
NETSTREIT Stock Down 3.4%
NTST stock traded down $0.57 during midday trading on Wednesday, reaching $16.48. 1,980,115 shares of the company were exchanged, compared to its average volume of 1,654,735. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 109.84, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.54 and a current ratio of 3.55. NETSTREIT has a 1-year low of $16.41 and a 1-year high of $22.47. The stock’s 50-day simple moving average is $19.00 and its 200 day simple moving average is $20.08.
Wall Street Analyst Weigh In
Several research firms recently commented on NTST. BTIG Research boosted their target price on NETSTREIT from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of NETSTREIT in a research report on Thursday, October 1st. Truist Financial initiated coverage on NETSTREIT in a research note on Thursday, October 1st. They issued a “buy” rating and a $21.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating and set a $25.00 price objective on shares of NETSTREIT in a research report on Wednesday, July 29th. Finally, Robert W. Baird boosted their price objective on NETSTREIT from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.46.
Check Out Our Latest Stock Analysis on NETSTREIT
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.
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