Brokerages Set NETSTREIT Corp. (NYSE:NTST) PT at $17.75

NETSTREIT Corp. (NYSE:NTST) has been assigned an average rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has 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 updated their coverage on the stock in the last year is $17.75.

Several brokerages have weighed in on NTST. Raymond James dropped their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Friday, January 17th. Truist Financial dropped their price objective on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Capital One Financial initiated coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, Mizuho dropped their target price on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th.

Insider Activity at NETSTREIT

In related news, CEO Mark Manheimer purchased 6,384 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $15.33 per share, with a total value of $97,866.72. Following the acquisition, the chief executive officer now owns 304,572 shares of the company’s stock, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have purchased 12,000 shares of company stock valued at $183,172. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On NETSTREIT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new stake in shares of NETSTREIT during the 4th quarter valued at approximately $41,000. PNC Financial Services Group Inc. grew its holdings in NETSTREIT by 861.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company’s stock worth $77,000 after acquiring an additional 4,865 shares during the last quarter. Comerica Bank grew its holdings in NETSTREIT by 174.3% during the 4th quarter. Comerica Bank now owns 9,703 shares of the company’s stock worth $137,000 after acquiring an additional 6,166 shares during the last quarter. Prudent Man Advisors LLC bought a new stake in NETSTREIT during the 4th quarter worth approximately $143,000. Finally, Mariner LLC bought a new stake in NETSTREIT during the 4th quarter worth approximately $143,000.

NETSTREIT Price Performance

Shares of NETSTREIT stock opened at $15.24 on Wednesday. NETSTREIT has a twelve month low of $13.42 and a twelve month high of $18.97. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $14.43 and a two-hundred day simple moving average of $15.33. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -253.87 and a beta of 0.99.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Friday, March 14th. NETSTREIT’s dividend payout ratio (DPR) is presently -525.00%.

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.