NETSTREIT (NYSE:NTST) Upgraded to “Sector Outperform” at Scotiabank

Scotiabank upgraded shares of NETSTREIT (NYSE:NTST) from a sector perform rating to a sector outperform rating in a research note released on Monday morning, Marketbeat Ratings reports. The firm currently has $18.00 price objective on the stock, up from their prior price objective of $16.00.

Several other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus dropped their price target 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 started coverage on shares of NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 price objective for the company. Wedbush began coverage on NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NETSTREIT presently has a consensus rating of “Moderate Buy” and an average price target of $18.30.

NETSTREIT Stock Down 1.4 %

NTST opened at $15.46 on Monday. The company has a market cap of $1.26 billion, a P/E ratio of -257.67 and a beta of 0.97. NETSTREIT has a 12 month low of $15.02 and a 12 month high of $18.97. The business’s 50-day moving average price is $16.17 and its 200-day moving average price is $16.57. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57.

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

NETSTREIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.43%. NETSTREIT’s payout ratio is -1,400.00%.

Institutional Investors Weigh In On NETSTREIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Long Pond Capital LP lifted its position in NETSTREIT by 235.2% during the first quarter. Long Pond Capital LP now owns 5,967,437 shares of the company’s stock valued at $109,622,000 after buying an additional 4,187,438 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after acquiring an additional 1,535,761 shares during the period. Russell Investments Group Ltd. boosted its stake in NETSTREIT by 64.9% during the first quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company’s stock worth $29,277,000 after acquiring an additional 627,514 shares in the last quarter. Vanguard Group Inc. boosted its stake in NETSTREIT by 8.3% during the first quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock worth $135,062,000 after acquiring an additional 566,513 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NETSTREIT by 765.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 635,707 shares of the company’s stock worth $10,508,000 after purchasing an additional 562,273 shares during the period.

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.