NETSTREIT Corp. (NYSE:NTST) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of NETSTREIT Corp. (NYSE:NTST) have received an average rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $17.75.

Several equities research analysts have recently issued reports on NTST shares. Mizuho lowered their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Capital One Financial assumed coverage on shares of NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. Raymond James cut 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 report on Friday, January 17th. Finally, Truist Financial decreased their target price on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th.

NETSTREIT Stock Performance

NTST opened at $15.43 on Wednesday. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $14.49 and its two-hundred day moving average price is $15.29. The firm has a market capitalization of $1.26 billion, a P/E ratio of -257.04 and a beta of 0.99. NETSTREIT has a 12-month low of $13.42 and a 12-month high of $18.97.

NETSTREIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Friday, March 14th. NETSTREIT’s dividend payout ratio is -525.00%.

Insider Buying and Selling at NETSTREIT

In related news, CEO Mark Manheimer acquired 6,384 shares of the business’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $15.33 per share, with a total value of $97,866.72. Following the completion of the acquisition, the chief executive officer now owns 304,572 shares in the company, valued at $4,669,088.76. The trade was a 2.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have purchased 12,000 shares of company stock valued at $183,172. 0.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NETSTREIT

Several institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its position 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 valued at $26,700,000 after purchasing an additional 1,535,761 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of NETSTREIT by 46.4% in the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock valued at $67,924,000 after buying an additional 1,521,668 shares during the last quarter. Tributary Capital Management LLC acquired a new position in NETSTREIT during the 4th quarter worth about $12,633,000. Hudson Bay Capital Management LP grew its holdings in NETSTREIT by 195.9% during the 4th quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company’s stock worth $18,943,000 after acquiring an additional 886,283 shares during the last quarter. Finally, DigitalBridge Group Inc. grew its holdings in NETSTREIT by 1,175.4% during the 4th quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company’s stock worth $13,499,000 after acquiring an additional 879,168 shares during the last quarter.

About NETSTREIT

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.