Analysts Set NETSTREIT Corp. (NYSE:NTST) Price Target at $18.04

NETSTREIT Corp. (NYSE:NTST) has been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.03.

NTST has been the subject of a number of recent analyst reports. Mizuho upped their price target on NETSTREIT from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, April 3rd. Capital One Financial assumed coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. Raymond James reduced their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company began coverage on shares of NETSTREIT in a research report on Monday. They set an “overweight” rating and a $18.00 price target on the stock.

NETSTREIT Trading Down 1.0 %

NYSE:NTST opened at $14.63 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of -243.71 and a beta of 0.91. NETSTREIT has a 52 week low of $13.42 and a 52 week high of $18.10. 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 fifty day moving average of $14.85 and a 200 day moving average of $15.14.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT’s payout ratio is -525.00%.

Insider Transactions at NETSTREIT

In related news, CEO Mark Manheimer bought 6,384 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $15.33 per share, for a total transaction of $97,866.72. Following the purchase, the chief executive officer now owns 304,572 shares in the company, valued at approximately $4,669,088.76. This represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 12,000 shares of company stock worth $183,172 over the last quarter. 0.46% of the stock is currently owned by insiders.

Institutional Trading of NETSTREIT

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of NETSTREIT by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company’s stock valued at $112,631,000 after purchasing an additional 234,695 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in NETSTREIT by 5.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company’s stock valued at $96,703,000 after buying an additional 354,973 shares during the last quarter. Cohen & Steers Inc. raised its position in NETSTREIT by 3.0% in the fourth quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company’s stock worth $94,287,000 after acquiring an additional 191,846 shares during the period. Principal Financial Group Inc. raised its position in NETSTREIT by 46.4% in the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock worth $67,924,000 after acquiring an additional 1,521,668 shares during the period. Finally, Lasalle Investment Management Securities LLC grew its position in shares of NETSTREIT by 30.8% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company’s stock valued at $48,807,000 after acquiring an additional 811,632 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.