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

NETSTREIT Corp. (NYSE:NTST) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $17.88.

Several research analysts have recently commented on the stock. Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Scotiabank reduced their price objective on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Wedbush started coverage on shares of NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock.

NETSTREIT Stock Down 1.0 %

NTST stock opened at $16.26 on Wednesday. The firm has a market cap of $1.19 billion, a PE ratio of 180.67 and a beta of 0.97. NETSTREIT has a 12 month low of $13.49 and a 12 month high of $18.97. The firm has a 50 day simple moving average of $16.57 and a 200 day simple moving average of $16.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.08 and a quick ratio of 4.08.

NETSTREIT (NYSE:NTST) last issued its quarterly 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 business had revenue of $39.57 million for the quarter, compared to analysts’ expectations of $39.31 million. During the same quarter in the prior year, the firm posted $0.30 EPS. Equities research analysts forecast that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid 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 dividend yield of 5.17%. This is a boost from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s payout ratio is 933.33%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of NETSTREIT by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 886,995 shares of the company’s stock valued at $15,833,000 after purchasing an additional 37,318 shares during the period. Quadrant Capital Group LLC boosted its holdings in NETSTREIT by 204.9% during the fourth quarter. Quadrant Capital Group LLC now owns 8,361 shares of the company’s stock worth $149,000 after buying an additional 5,619 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of NETSTREIT by 5.6% during the 4th quarter. Corient Private Wealth LLC now owns 69,045 shares of the company’s stock worth $1,232,000 after buying an additional 3,682 shares during the period. Franklin Resources Inc. increased its stake in shares of NETSTREIT by 17.8% in the 4th quarter. Franklin Resources Inc. now owns 386,569 shares of the company’s stock valued at $6,900,000 after acquiring an additional 58,454 shares during the last quarter. Finally, Aigen Investment Management LP raised its position in shares of NETSTREIT by 150.7% in the 4th quarter. Aigen Investment Management LP now owns 66,734 shares of the company’s stock valued at $1,191,000 after acquiring an additional 40,119 shares during the period.

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.