NETSTREIT Corp. (NYSE:NTST) Receives Average Rating of “Moderate Buy” from Analysts

NETSTREIT Corp. (NYSE:NTST) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.98.

A number of equities research analysts have issued reports on the stock. UBS Group started coverage on shares of NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 target price on the stock. Scotiabank decreased their price objective on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Finally, Wedbush began coverage on NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price for the company.

NETSTREIT Trading Up 0.1 %

Shares of NTST opened at $16.58 on Friday. NETSTREIT has a fifty-two week low of $13.49 and a fifty-two week high of $18.97. The business has a 50-day moving average of $16.42 and a 200 day moving average of $16.75. The firm has a market cap of $1.28 billion, a P/E ratio of 236.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.08 and a current ratio of 4.08.

NETSTREIT (NYSE:NTST) last posted its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.33). The business had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, research analysts forecast that NETSTREIT will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a $0.21 dividend. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend was Tuesday, September 3rd. NETSTREIT’s dividend payout ratio (DPR) is currently 1,200.00%.

Hedge Funds Weigh In On NETSTREIT

Institutional investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky grew its position in NETSTREIT by 50.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 102,226 shares of the company’s stock worth $1,825,000 after acquiring an additional 34,469 shares in the last quarter. Wellington Management Group LLP lifted its stake in NETSTREIT by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 2,743,007 shares of the company’s stock worth $48,963,000 after purchasing an additional 69,005 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NETSTREIT by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 6,785,782 shares of the company’s stock worth $121,126,000 after purchasing an additional 330,192 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of NETSTREIT during the 1st quarter valued at about $2,068,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of NETSTREIT by 9.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,182 shares of the company’s stock valued at $407,000 after buying an additional 2,003 shares in 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.