NETSTREIT (NYSE:NTST) Reaches New 52-Week Low – Here’s Why

NETSTREIT Corp. (NYSE:NTST) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.74 and last traded at $13.80, with a volume of 25900 shares trading hands. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NTST. Truist Financial lowered their price objective on NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. UBS Group began coverage on NETSTREIT in a research note on Monday, October 14th. They issued a “buy” rating and a $19.00 target price on the stock. Stifel Nicolaus dropped 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. Finally, Scotiabank raised NETSTREIT from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $16.00 to $18.00 in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned 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 price target of $19.03.

NETSTREIT Trading Down 1.3 %

The stock has a 50 day moving average price of $15.48 and a 200-day moving average price of $16.12. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.12 billion, a PE ratio of -229.46 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). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The firm had revenue of $41.44 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same period last year, the company earned $0.31 earnings per share. Sell-side analysts expect that NETSTREIT Corp. will post 1.19 earnings per share for the current year.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Monday, December 2nd. NETSTREIT’s payout ratio is -1,400.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NTST. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of NETSTREIT by 1,931.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock valued at $26,700,000 after purchasing an additional 1,535,761 shares during the last quarter. Vestcor Inc purchased a new stake in shares of NETSTREIT during the third quarter worth about $913,000. Geode Capital Management LLC boosted its stake in shares of NETSTREIT by 6.0% in the third quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock worth $32,748,000 after acquiring an additional 112,047 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NETSTREIT by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,078,174 shares of the company’s stock worth $17,822,000 after buying an additional 95,433 shares in the last quarter. Finally, Barclays PLC raised its holdings in NETSTREIT by 216.9% in the 3rd quarter. Barclays PLC now owns 123,066 shares of the company’s stock valued at $2,033,000 after acquiring an additional 84,226 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.