NETSTREIT (NYSE:NTST) Now Covered by UBS Group

UBS Group started coverage on shares of NETSTREIT (NYSE:NTST) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $19.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 16.56% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Wedbush started coverage on shares of NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price for the company. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Finally, Scotiabank reduced their target price on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.98.

NETSTREIT Price Performance

Shares of NYSE NTST opened at $16.30 on Monday. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 181.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.08 and a current ratio of 4.08. NETSTREIT has a fifty-two week low of $13.49 and a fifty-two week high of $18.97. The firm’s 50-day simple moving average is $16.35 and its 200 day simple moving average is $16.77.

NETSTREIT (NYSE:NTST) last posted its earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $39.31 million. During the same quarter in the prior year, the business earned $0.30 EPS. As a group, research analysts anticipate that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NETSTREIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of NETSTREIT in the second quarter worth $45,000. Point72 DIFC Ltd purchased a new stake in NETSTREIT during the 2nd quarter worth about $83,000. Van ECK Associates Corp boosted its stake in NETSTREIT by 13.7% in the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after purchasing an additional 1,359 shares during the period. ProShare Advisors LLC grew its holdings in NETSTREIT by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,434 shares of the company’s stock valued at $228,000 after buying an additional 977 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of NETSTREIT during the second quarter valued at about $202,000.

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.