Mizuho Lowers NETSTREIT (NYSE:NTST) Price Target to $15.00

NETSTREIT (NYSE:NTST) had its price target cut by Mizuho from $17.00 to $15.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

NTST has been the subject of a number of other reports. Stifel Nicolaus reduced 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. UBS Group began coverage on shares of NETSTREIT in a research report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target on the stock. Scotiabank upgraded NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $16.00 to $18.00 in a research report on Monday, November 11th. Finally, Truist Financial cut their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.04.

NETSTREIT Price Performance

NYSE NTST opened at $13.63 on Wednesday. NETSTREIT has a 12 month low of $13.42 and a 12 month high of $18.97. The firm has a market capitalization of $1.11 billion, a PE ratio of -227.13 and a beta of 1.00. The company’s 50 day simple moving average is $15.10 and its 200 day simple moving average is $15.91. 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 issued 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 net margin of 2.96% and a negative return on equity of 0.35%. During the same quarter last year, the business posted $0.31 earnings per share. As a group, equities research analysts forecast that NETSTREIT will post 1.19 EPS for the current fiscal year.

NETSTREIT Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 6.16%. The ex-dividend date was Monday, December 2nd. NETSTREIT’s dividend payout ratio is currently -1,400.00%.

Hedge Funds Weigh In On NETSTREIT

Hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB acquired a new stake in NETSTREIT in the fourth quarter valued at approximately $6,714,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in NETSTREIT by 1,931.7% during 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 buying an additional 1,535,761 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NETSTREIT by 6.0% during the 3rd 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. Vestcor Inc bought a new position in shares of NETSTREIT in the 3rd quarter valued at approximately $913,000. Finally, Barclays PLC lifted its holdings in NETSTREIT by 216.9% in the 3rd quarter. Barclays PLC now owns 123,066 shares of the company’s stock worth $2,033,000 after purchasing an additional 84,226 shares during 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.