NETSTREIT (NYSE:NTST) Price Target Raised to $17.00

NETSTREIT (NYSE:NTST) had its target price hoisted by Mizuho from $15.00 to $17.00 in a report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Raymond James dropped their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Friday, January 17th. Capital One Financial began coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, Truist Financial reduced their price target on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NETSTREIT has a consensus rating of “Buy” and an average price target of $18.04.

NETSTREIT Price Performance

NYSE:NTST opened at $15.31 on Thursday. The company has a market capitalization of $1.25 billion, a P/E ratio of -255.16 and a beta of 0.91. 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 has a 52 week low of $13.42 and a 52 week high of $18.10. The stock’s fifty day moving average is $14.84 and its two-hundred day moving average is $15.17.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.84 annualized dividend and a yield of 5.49%. NETSTREIT’s dividend payout ratio (DPR) is -525.00%.

Insider Activity

In other news, CEO Mark Manheimer acquired 6,384 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $15.33 per share, with a total value of $97,866.72. Following the transaction, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. This trade represents a 2.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders purchased 12,000 shares of company stock worth $183,172. 0.46% of the stock is currently owned by company insiders.

Institutional Trading of NETSTREIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in shares of NETSTREIT during the 4th quarter worth about $41,000. PNC Financial Services Group Inc. lifted its stake in NETSTREIT by 861.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock worth $77,000 after purchasing an additional 4,865 shares during the last quarter. Comerica Bank boosted its holdings in NETSTREIT by 174.3% in the fourth quarter. Comerica Bank now owns 9,703 shares of the company’s stock valued at $137,000 after purchasing an additional 6,166 shares in the last quarter. Prudent Man Advisors LLC purchased a new position in NETSTREIT in the fourth quarter valued at approximately $143,000. Finally, Mariner LLC acquired a new stake in NETSTREIT during the fourth quarter worth approximately $143,000.

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.