NETSTREIT (NYSE:NTST) Reaches New 1-Year Low – Here’s Why

NETSTREIT Corp. (NYSE:NTST)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $14.70 and last traded at $14.73, with a volume of 561186 shares changing hands. The stock had previously closed at $14.93.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NTST shares. Stifel Nicolaus reduced their price target on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Scotiabank upgraded shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $16.00 to $18.00 in a research note on Monday, November 11th. Truist Financial lowered their price target on NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $20.00 to $19.00 in a research report on Wednesday, August 21st. Finally, UBS Group began coverage on NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NETSTREIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.03.

NETSTREIT Price Performance

The company’s 50 day moving average price is $15.80 and its 200 day moving average price is $16.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -237.96 and a beta of 0.97.

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

NETSTREIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued 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 yield of 5.88%. NETSTREIT’s dividend payout ratio is -1,400.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC raised its position in NETSTREIT by 3.7% in the 3rd quarter. Natixis Advisors LLC now owns 26,051 shares of the company’s stock worth $431,000 after purchasing an additional 941 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of NETSTREIT by 5.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 17,939 shares of the company’s stock valued at $297,000 after buying an additional 1,001 shares during the period. QSV Equity Investors LLC lifted its stake in shares of NETSTREIT by 1.6% during the third quarter. QSV Equity Investors LLC now owns 77,533 shares of the company’s stock valued at $1,282,000 after acquiring an additional 1,214 shares during the period. Van ECK Associates Corp boosted its holdings in NETSTREIT by 13.7% in the second quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock valued at $182,000 after acquiring an additional 1,359 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in NETSTREIT by 4.2% in the third quarter. State of Alaska Department of Revenue now owns 36,869 shares of the company’s stock worth $609,000 after purchasing an additional 1,490 shares during the period.

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.