Stifel Nicolaus Cuts NETSTREIT (NYSE:NTST) Price Target to $19.25

NETSTREIT (NYSE:NTST) had its price objective lowered by Stifel Nicolaus from $19.50 to $19.25 in a report published on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on NTST. Scotiabank lowered their price objective on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Wedbush initiated coverage on NETSTREIT in a report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price for the company. UBS Group initiated coverage on NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.11.

NETSTREIT Stock Up 1.3 %

NYSE NTST traded up $0.21 on Tuesday, hitting $16.07. 184,041 shares of the stock traded hands, compared to its average volume of 1,009,484. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $16.24 and a 200 day moving average of $16.61. NETSTREIT has a twelve month low of $14.92 and a twelve month high of $18.97. The company has a market capitalization of $1.24 billion, a P/E ratio of -267.79 and a beta of 0.97.

NETSTREIT (NYSE:NTST) last posted 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). NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.36%. The firm had revenue of $41.44 million for the quarter, compared to analyst estimates of $41.10 million. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, analysts expect that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.23%. The ex-dividend date is Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is presently -1,399.77%.

Hedge Funds Weigh In On NETSTREIT

Hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in NETSTREIT in the second quarter worth approximately $45,000. Point72 DIFC Ltd purchased a new position in NETSTREIT in the 2nd quarter worth about $83,000. M&G PLC acquired a new stake in NETSTREIT during the 3rd quarter worth about $173,000. Custom Index Systems LLC purchased a new stake in NETSTREIT during the third quarter valued at about $170,000. Finally, Van ECK Associates Corp increased its position in shares of NETSTREIT by 13.7% in the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after acquiring an additional 1,359 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.