NETSTREIT (NYSE:NTST) PT Lowered to $16.00 at Scotiabank

NETSTREIT (NYSE:NTST) had its price objective cut by Scotiabank from $18.00 to $16.00 in a report published on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the stock.

NETSTREIT Stock Down 0.1 %

Shares of NETSTREIT stock traded down $0.01 during trading on Wednesday, reaching $15.38. The company had a trading volume of 1,584,089 shares, compared to its average volume of 980,033. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 170.89, a price-to-earnings-growth ratio of 9.95 and a beta of 0.97. NETSTREIT has a fifty-two week low of $13.49 and a fifty-two week high of $18.97. The firm’s fifty day moving average is $16.59 and its 200-day moving average is $17.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.30 and a current ratio of 4.08.

NETSTREIT (NYSE:NTST) last released its earnings results on Monday, July 29th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33). NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. The firm had revenue of $39.57 million for the quarter, compared to the consensus estimate of $39.31 million. During the same period in the prior year, the business earned $0.30 EPS. On average, analysts anticipate that NETSTREIT will post 1.18 EPS for the current year.

NETSTREIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. This represents a $0.84 annualized dividend and a dividend yield of 5.46%. NETSTREIT’s dividend payout ratio is 933.33%.

Insider Transactions at NETSTREIT

In other NETSTREIT news, Director Todd Minnis sold 6,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $17.86, for a total value of $111,625.00. Following the sale, the director now owns 10,359 shares in the company, valued at $185,011.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC increased its stake in shares of NETSTREIT by 1,721.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,894 shares of the company’s stock valued at $34,000 after acquiring an additional 1,790 shares during the period. Parallel Advisors LLC raised its stake in shares of NETSTREIT by 702.3% in the 4th quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock worth $61,000 after buying an additional 3,013 shares in the last quarter. Signaturefd LLC raised its stake in shares of NETSTREIT by 266.9% in the 4th quarter. Signaturefd LLC now owns 4,905 shares of the company’s stock worth $88,000 after buying an additional 3,568 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of NETSTREIT by 204.9% in the fourth quarter. Quadrant Capital Group LLC now owns 8,361 shares of the company’s stock valued at $149,000 after buying an additional 5,619 shares during the period. Finally, Van ECK Associates Corp boosted its stake in NETSTREIT by 22.7% during the fourth quarter. Van ECK Associates Corp now owns 9,694 shares of the company’s stock valued at $173,000 after buying an additional 1,796 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.