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

NETSTREIT Corp. (NYSE:NTST) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.88.

A number of research firms recently weighed in on NTST. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $20.00 to $19.00 in a report on Wednesday, August 21st. Wedbush initiated coverage on NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 target price for the company. Finally, Scotiabank decreased their target price on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th.

NETSTREIT Price Performance

NYSE:NTST opened at $15.70 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08. The company has a 50 day moving average price of $16.32 and a 200-day moving average price of $16.81. NETSTREIT has a 1-year low of $13.49 and a 1-year high of $18.97. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 224.29 and a beta of 0.96.

NETSTREIT (NYSE:NTST) last released its quarterly earnings data 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 analysts’ expectations of $39.31 million. During the same period in the previous year, the firm posted $0.30 EPS. Equities research analysts forecast that NETSTREIT will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend was Tuesday, September 3rd. NETSTREIT’s dividend payout ratio is currently 1,200.00%.

Institutional Investors Weigh In On NETSTREIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its stake in shares of NETSTREIT by 7.3% in the third quarter. Exchange Traded Concepts LLC now owns 126,963 shares of the company’s stock worth $2,099,000 after buying an additional 8,680 shares in the last quarter. SG Americas Securities LLC raised its holdings in NETSTREIT by 69.9% in the 3rd quarter. SG Americas Securities LLC now owns 33,320 shares of the company’s stock valued at $551,000 after acquiring an additional 13,710 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in NETSTREIT in the 2nd quarter valued at about $83,000. Teachers Retirement System of The State of Kentucky lifted its stake in NETSTREIT by 10.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 148,753 shares of the company’s stock worth $2,395,000 after purchasing an additional 13,839 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of NETSTREIT during the 2nd quarter worth approximately $45,000.

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.