Analysts Set NETSTREIT Corp. (NYSE:NTST) Target Price at $17.88

Shares of NETSTREIT Corp. (NYSE:NTST) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $17.98.

A number of analysts have commented on the company. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Wedbush assumed coverage on NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. UBS Group began coverage on NETSTREIT in a research report on Monday. They set a “buy” rating and a $19.00 target price on the stock. Finally, Scotiabank cut their price target on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTST. Vanguard Group Inc. raised 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 valued at $135,062,000 after buying an additional 566,513 shares in the last quarter. Long Pond Capital LP raised its stake 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 in the last quarter. Wellington Management Group LLP raised its stake in NETSTREIT by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 2,743,007 shares of the company’s stock valued at $48,963,000 after buying an additional 69,005 shares in the last quarter. Russell Investments Group Ltd. raised 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 valued at $29,277,000 after buying an additional 627,514 shares in the last quarter. Finally, APG Asset Management US Inc. raised its stake in NETSTREIT by 5.6% during the second quarter. APG Asset Management US Inc. now owns 1,520,236 shares of the company’s stock valued at $24,597,000 after buying an additional 80,553 shares in the last quarter.

NETSTREIT Trading Up 1.8 %

NTST opened at $16.30 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 181.11 and a beta of 0.96. NETSTREIT has a 52 week low of $13.49 and a 52 week high of $18.97. The business’s 50 day moving average is $16.35 and its two-hundred day moving average is $16.77. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55.

NETSTREIT (NYSE:NTST) last announced its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.33). NETSTREIT had a net margin of 3.32% and a return on equity of 0.39%. The company had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $39.31 million. During the same quarter last year, the business posted $0.30 earnings per share. On average, research analysts predict that NETSTREIT will post 1.19 EPS for the current year.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 5.15%. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is currently 933.33%.

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.