Analysts Set NETSTREIT Corp. (NYSE:NTST) Target Price at $19.03

NETSTREIT Corp. (NYSE:NTST) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $19.03.

NTST has been the subject of a number of recent research reports. Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Monday, November 11th. Truist Financial cut their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. UBS Group assumed coverage on shares of NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Stifel Nicolaus reduced their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On NETSTREIT

Institutional investors and hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. raised its stake in NETSTREIT by 1,931.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after purchasing an additional 1,535,761 shares in the last quarter. Vestcor Inc bought a new position in shares of NETSTREIT in the 3rd quarter worth $913,000. Geode Capital Management LLC grew its position in NETSTREIT by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock worth $32,748,000 after acquiring an additional 112,047 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in NETSTREIT by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company’s stock worth $17,822,000 after acquiring an additional 95,433 shares in the last quarter. Finally, Barclays PLC increased its stake in NETSTREIT by 216.9% in the third quarter. Barclays PLC now owns 123,066 shares of the company’s stock valued at $2,033,000 after acquiring an additional 84,226 shares during the last quarter.

NETSTREIT Stock Down 1.1 %

Shares of NYSE:NTST opened at $13.95 on Friday. NETSTREIT has a 1 year low of $13.80 and a 1 year high of $18.97. The company has a market capitalization of $1.14 billion, a PE ratio of -232.46 and a beta of 0.97. The business has a fifty day moving average price of $15.48 and a two-hundred day moving average price of $16.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11.

NETSTREIT (NYSE:NTST) last released its earnings results on Monday, November 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.37). NETSTREIT had a negative net margin of 2.96% and a negative return on equity of 0.35%. The company had revenue of $41.44 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Analysts forecast that NETSTREIT will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT’s dividend payout ratio (DPR) is presently -1,400.00%.

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.