NETSTREIT Corp. (NYSE:NTST) Given Consensus Recommendation of “Moderate Buy” by Brokerages

NETSTREIT Corp. (NYSE:NTST) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $19.03.

A number of equities analysts have weighed in on NTST shares. Truist Financial reduced their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $16.00 to $18.00 in a research report on Monday, November 11th. UBS Group began coverage on shares of NETSTREIT in a research report on Monday, October 14th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th.

NETSTREIT Trading Down 0.1 %

Shares of NYSE:NTST opened at $14.10 on Friday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -234.96 and a beta of 0.97. NETSTREIT has a 12 month low of $13.80 and a 12 month high of $18.97. The company’s fifty day simple moving average is $15.54 and its 200 day simple moving average is $16.15. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.37). The firm had revenue of $41.44 million during the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.31 EPS. As a group, research analysts forecast that NETSTREIT will post 1.19 EPS for the current fiscal year.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.96%. NETSTREIT’s payout ratio is -1,400.00%.

Institutional Trading of NETSTREIT

A number of hedge funds have recently made changes to their positions in NTST. Bank of New York Mellon Corp lifted its holdings in NETSTREIT by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 409,904 shares of the company’s stock valued at $6,599,000 after purchasing an additional 28,222 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NETSTREIT by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,581 shares of the company’s stock valued at $412,000 after purchasing an additional 2,373 shares during the period. Van ECK Associates Corp lifted its stake in shares of NETSTREIT by 13.7% during the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after buying an additional 1,359 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of NETSTREIT by 10.2% during the 2nd quarter. Rhumbline Advisers now owns 126,929 shares of the company’s stock worth $2,044,000 after buying an additional 11,765 shares during the period. Finally, Arizona State Retirement System grew its stake in NETSTREIT by 8.6% in the 2nd quarter. Arizona State Retirement System now owns 20,498 shares of the company’s stock valued at $330,000 after buying an additional 1,617 shares during the last quarter.

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.