Scotiabank Lowers NETSTREIT (NYSE:NTST) Price Target to $16.00

NETSTREIT (NYSE:NTST) had its target price decreased by equities researchers at Scotiabank from $18.00 to $16.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 3.23% from the company’s previous close.

NETSTREIT Trading Down 0.2 %

NYSE:NTST traded down $0.03 during trading hours on Wednesday, reaching $15.50. 745,338 shares of the company were exchanged, compared to its average volume of 973,709. NETSTREIT has a 52-week low of $13.49 and a 52-week high of $18.97. The stock has a 50 day simple moving average of $16.69 and a 200 day simple moving average of $17.19. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 172.22, a PEG ratio of 9.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.30.

NETSTREIT (NYSE:NTST) last issued its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The firm had revenue of $39.57 million during the quarter, compared to analyst estimates of $39.31 million. During the same quarter in the previous year, the business posted $0.30 EPS. As a group, analysts predict that NETSTREIT will post 1.18 EPS for the current year.

Insider Activity at NETSTREIT

In other NETSTREIT news, Director Todd Minnis sold 6,250 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $17.86, for a total value of $111,625.00. Following the completion of the sale, the director now owns 10,359 shares of the company’s stock, valued at $185,011.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On NETSTREIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in shares of NETSTREIT by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 32,512 shares of the company’s stock worth $579,000 after acquiring an additional 608 shares in the last quarter. Arizona State Retirement System raised its position in shares of NETSTREIT by 8.1% in the 4th quarter. Arizona State Retirement System now owns 18,728 shares of the company’s stock valued at $334,000 after purchasing an additional 1,399 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of NETSTREIT by 25.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 215,182 shares of the company’s stock valued at $3,878,000 after buying an additional 44,145 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of NETSTREIT by 8.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,913 shares of the company’s stock worth $1,444,000 after buying an additional 6,428 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of NETSTREIT by 36.6% in the fourth quarter. Strs Ohio now owns 89,129 shares of the company’s stock worth $1,590,000 after buying an additional 23,900 shares during the last quarter.

About NETSTREIT

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.