NETSTREIT Corp. (NYSE:NTST) Receives Average Rating of “Moderate Buy” from Brokerages

NETSTREIT Corp. (NYSE:NTST) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $18.11.

Several research firms have issued reports on NTST. Wolfe Research upgraded shares of NETSTREIT from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Tuesday, January 2nd. KeyCorp upgraded NETSTREIT from an “underweight” rating to a “sector weight” rating in a research note on Thursday, February 1st. Finally, Mizuho boosted their price objective on NETSTREIT from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, March 7th.

NETSTREIT Stock Down 0.1 %

Shares of NYSE:NTST opened at $17.00 on Friday. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.47. The firm has a 50 day simple moving average of $17.28 and a 200-day simple moving average of $16.87. The company has a market capitalization of $1.25 billion, a PE ratio of 154.56, a P/E/G ratio of 3.54 and a beta of 0.97. NETSTREIT has a twelve month low of $13.49 and a twelve month high of $18.97.

NETSTREIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.205 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.82 annualized dividend and a dividend yield of 4.82%. NETSTREIT’s dividend payout ratio (DPR) is currently 745.52%.

Hedge Funds Weigh In On NETSTREIT

Several institutional investors have recently bought and sold shares of NTST. Wellington Management Group LLP lifted its stake in shares of NETSTREIT by 56.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,674,002 shares of the company’s stock worth $41,661,000 after acquiring an additional 967,036 shares during the period. Principal Financial Group Inc. lifted its position in NETSTREIT by 14.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,156,810 shares of the company’s stock valued at $74,199,000 after purchasing an additional 526,794 shares during the period. Vanguard Group Inc. boosted its holdings in NETSTREIT by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,455,590 shares of the company’s stock valued at $100,578,000 after purchasing an additional 466,435 shares in the last quarter. Cohen & Steers Inc. increased its position in NETSTREIT by 4.3% during the 4th quarter. Cohen & Steers Inc. now owns 9,344,847 shares of the company’s stock worth $166,806,000 after purchasing an additional 383,240 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NETSTREIT by 81.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 849,677 shares of the company’s stock worth $13,238,000 after buying an additional 382,149 shares in 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.