NETSTREIT (NYSE:NTST) Sets New 12-Month Low – Time to Sell?

NETSTREIT Corp. (NYSE:NTST)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $13.72 and last traded at $13.75, with a volume of 695601 shares trading hands. The stock had previously closed at $13.99.

Wall Street Analyst Weigh In

A number of brokerages have commented on NTST. Stifel Nicolaus cut their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Truist Financial decreased their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Finally, UBS Group assumed coverage on NETSTREIT in a research report on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.61.

NETSTREIT Stock Down 1.8 %

The firm’s fifty day simple moving average is $15.29 and its 200-day simple moving average is $16.01. The company has a market cap of $1.12 billion, a PE ratio of -228.96 and a beta of 1.00. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.37). The firm had revenue of $41.44 million for the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same period in the prior year, the business earned $0.31 earnings per share. As a group, equities research analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date was Monday, December 2nd. NETSTREIT’s dividend payout ratio is currently -1,400.00%.

Hedge Funds Weigh In On NETSTREIT

Large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of NETSTREIT during the 2nd quarter worth about $45,000. Point72 DIFC Ltd purchased a new position in NETSTREIT during the second quarter worth approximately $83,000. Hohimer Wealth Management LLC purchased a new position in NETSTREIT during the third quarter worth approximately $166,000. M&G PLC acquired a new position in shares of NETSTREIT in the 3rd quarter valued at $173,000. Finally, Custom Index Systems LLC purchased a new stake in shares of NETSTREIT during the 3rd quarter valued at $170,000.

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.