NETSTREIT Corp. (NYSE:NTST) Receives Consensus Rating of “Buy” from Analysts

Shares of NETSTREIT Corp. (NYSE:NTST) have earned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.75.

Several research firms recently issued reports on NTST. Truist Financial cut 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. Raymond James lowered their price objective on NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 17th. Mizuho decreased their price objective on shares of NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Finally, Capital One Financial began coverage on NETSTREIT in a report on Wednesday, February 12th. They issued an “overweight” rating for the company.

NETSTREIT Trading Up 1.6 %

Shares of NTST opened at $15.24 on Wednesday. NETSTREIT has a 1-year low of $13.42 and a 1-year high of $18.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -253.87 and a beta of 0.99. The company has a 50-day moving average of $14.43 and a 200 day moving average of $15.31.

NETSTREIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 5.51%. NETSTREIT’s payout ratio is currently -525.00%.

Insider Buying and Selling at NETSTREIT

In other news, CEO Mark Manheimer purchased 3,616 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the completion of the acquisition, the chief executive officer now directly owns 295,252 shares of the company’s stock, valued at $4,493,735.44. The trade was a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 12,000 shares of company stock valued at $183,172 in the last quarter. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On NETSTREIT

A number of hedge funds have recently added to or reduced their stakes in NTST. Vanguard Group Inc. lifted its holdings in shares of NETSTREIT by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company’s stock worth $112,631,000 after acquiring an additional 234,695 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in NETSTREIT by 5.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company’s stock worth $96,703,000 after purchasing an additional 354,973 shares during the period. Cohen & Steers Inc. grew its position in NETSTREIT by 3.0% in the fourth quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company’s stock valued at $94,287,000 after purchasing an additional 191,846 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of NETSTREIT by 46.4% in the 4th quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company’s stock valued at $67,924,000 after acquiring an additional 1,521,668 shares during the period. Finally, Lasalle Investment Management Securities LLC boosted its position in NETSTREIT by 30.8% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company’s stock worth $48,807,000 after purchasing an additional 811,632 shares during the period.

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.