NETSTREIT (NYSE:NTST) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of NETSTREIT (NYSE:NTST) from an outperform rating to a strong-buy rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has $19.00 price target on the stock, down from their prior price target of $20.00.

Other equities analysts have also issued reports about the company. Wedbush started coverage on NETSTREIT in a research report on Monday, August 19th. They issued a neutral rating and a $17.00 target price on the stock. Scotiabank lowered their price target on NETSTREIT from $18.00 to $16.00 and set a sector perform rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $17.88.

NETSTREIT Stock Performance

Shares of NTST opened at $16.85 on Wednesday. The business’s 50 day moving average is $16.42 and its two-hundred day moving average is $17.00. NETSTREIT has a 52-week low of $13.49 and a 52-week high of $18.97. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 187.22, a PEG ratio of 9.95 and a beta of 0.97. The company has a quick ratio of 4.30, a current ratio of 4.08 and a debt-to-equity ratio of 0.55.

NETSTREIT (NYSE:NTST) last announced its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share (EPS) 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 business had revenue of $39.57 million during the quarter, compared to analyst estimates of $39.31 million. During the same period in the previous year, the company earned $0.30 earnings per share. Analysts forecast that NETSTREIT will post 1.18 EPS for the current fiscal year.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.99%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 3rd. NETSTREIT’s dividend payout ratio (DPR) is presently 933.33%.

Hedge Funds Weigh In On NETSTREIT

Several institutional investors have recently modified their holdings of NTST. Long Pond Capital LP increased its holdings in shares of NETSTREIT by 235.2% in the 1st quarter. Long Pond Capital LP now owns 5,967,437 shares of the company’s stock worth $109,622,000 after acquiring an additional 4,187,438 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of NETSTREIT by 64.9% in the 1st quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company’s stock worth $29,277,000 after acquiring an additional 627,514 shares during the period. Vanguard Group Inc. increased its holdings in shares of NETSTREIT by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock worth $135,062,000 after acquiring an additional 566,513 shares during the period. Principal Financial Group Inc. increased its holdings in shares of NETSTREIT by 14.5% in the 4th quarter. Principal Financial Group Inc. now owns 4,156,810 shares of the company’s stock worth $74,199,000 after acquiring an additional 526,794 shares during the period. Finally, Cohen & Steers Inc. increased its holdings in shares of NETSTREIT by 4.3% in the 4th quarter. Cohen & Steers Inc. now owns 9,344,847 shares of the company’s stock worth $166,806,000 after acquiring an additional 383,240 shares during the period.

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.