NETSTREIT (NYSE:NTST) Stock Rating Upgraded by Scotiabank

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

A number of other research analysts have also weighed in on NTST. Raymond James upgraded shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Wedbush started coverage on NETSTREIT in a research report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price target for the company. Stifel Nicolaus dropped their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group began coverage on NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

NETSTREIT Stock Performance

Shares of NTST opened at $15.46 on Monday. NETSTREIT has a 1 year low of $15.02 and a 1 year high of $18.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The stock’s fifty day moving average price is $16.17 and its two-hundred day moving average price is $16.57. The firm has a market cap of $1.26 billion, a PE ratio of -257.67 and a beta of 0.97.

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

NETSTREIT Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTST. Quarry LP bought a new stake in NETSTREIT during the second quarter worth about $45,000. Point72 DIFC Ltd purchased a new position in shares of NETSTREIT during the 2nd quarter valued at about $83,000. Custom Index Systems LLC purchased a new position in shares of NETSTREIT during the 3rd quarter valued at about $170,000. M&G PLC bought a new stake in NETSTREIT in the 3rd quarter worth approximately $173,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in NETSTREIT in the third quarter worth approximately $177,000.

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.