Analysts Set NETSTREIT Corp. (NYSE:NTST) Target Price at $17.75

Shares of NETSTREIT Corp. (NYSE:NTST) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five 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 covered the stock in the last year is $17.75.

Several equities analysts have recently commented on the company. Stifel Nicolaus cut their price target on NETSTREIT from $19.50 to $19.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. UBS Group assumed coverage on shares of NETSTREIT in a report on Monday, October 14th. They issued a “buy” rating and a $19.00 price target for the company. Truist Financial lowered their price target on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Raymond James reduced their price objective on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Friday, January 17th. Finally, Mizuho dropped their target price on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th.

NETSTREIT Trading Up 3.0 %

Shares of NTST opened at $14.81 on Tuesday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -246.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. NETSTREIT has a 1-year low of $13.42 and a 1-year high of $18.97. The company has a 50-day moving average of $14.81 and a 200 day moving average of $15.78.

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

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend was Monday, December 2nd. NETSTREIT’s payout ratio is presently -1,399.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTST. Nordea Investment Management AB acquired a new stake in NETSTREIT in the fourth quarter worth about $6,714,000. JPMorgan Chase & Co. raised its position in shares of NETSTREIT by 173.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock valued at $9,414,000 after purchasing an additional 361,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in NETSTREIT by 1,931.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,615,264 shares of the company’s stock worth $26,700,000 after purchasing an additional 1,535,761 shares in the last quarter. Vestcor Inc purchased a new stake in NETSTREIT during the 3rd quarter worth approximately $913,000. Finally, Geode Capital Management LLC increased its stake in NETSTREIT by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after purchasing an additional 112,047 shares in 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.