Mizuho Cuts NETSTREIT (NYSE:NTST) Price Target to $15.00

NETSTREIT (NYSE:NTST) had its target price lowered by Mizuho from $17.00 to $15.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also commented on the company. UBS Group assumed coverage on NETSTREIT in a research note on Monday, October 14th. They issued a “buy” rating and a $19.00 target price for the company. Stifel Nicolaus decreased their target price on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Truist Financial lowered their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Finally, Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company 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, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.04.

NETSTREIT Stock Down 0.7 %

Shares of NYSE:NTST opened at $13.63 on Wednesday. The company has a market capitalization of $1.11 billion, a P/E ratio of -227.13 and a beta of 1.00. The stock’s fifty day simple moving average is $15.10 and its 200-day simple moving average is $15.91. NETSTREIT has a 52-week low of $13.42 and a 52-week high of $18.97. 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 for the quarter, compared to analyst estimates of $41.10 million. NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. During the same period in the prior year, the business earned $0.31 earnings per share. As a group, equities research analysts forecast that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.21 per share. 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 6.16%. NETSTREIT’s dividend payout ratio is currently -1,400.00%.

Hedge Funds Weigh In On NETSTREIT

A number of institutional investors have recently added to or reduced their stakes in NTST. Quarry LP bought a new stake in shares of NETSTREIT in the second quarter worth $45,000. Point72 DIFC Ltd bought a new stake in shares of NETSTREIT in the 2nd quarter worth approximately $83,000. Hohimer Wealth Management LLC acquired a new stake in NETSTREIT in the third quarter worth $166,000. M&G PLC bought a new stake in NETSTREIT in the third quarter valued at $173,000. Finally, Custom Index Systems LLC bought a new stake in NETSTREIT in the third quarter valued at $170,000.

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.