NETSTREIT Corp. (NYSE:NTST) Receives $17.75 Consensus PT from Brokerages

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

A number of research firms have recently issued reports on NTST. Raymond James cut their price target on shares of NETSTREIT from $19.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, January 17th. Truist Financial cut their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Capital One Financial began coverage on NETSTREIT in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, Mizuho dropped their price target on NETSTREIT from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer acquired 6,384 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $15.33 per share, with a total value of $97,866.72. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 12,000 shares of company stock valued at $183,172. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Nordea Investment Management AB acquired a new position in shares of NETSTREIT during the 4th quarter valued at about $6,714,000. JPMorgan Chase & Co. grew its holdings in NETSTREIT by 173.9% during the third quarter. JPMorgan Chase & Co. now owns 569,527 shares of the company’s stock valued at $9,414,000 after purchasing an additional 361,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of NETSTREIT by 1,931.7% in the third 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 period. Vestcor Inc acquired a new stake in shares of NETSTREIT in the third quarter worth $913,000. Finally, Geode Capital Management LLC boosted its holdings in shares of NETSTREIT by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock worth $32,748,000 after buying an additional 112,047 shares during the period.

NETSTREIT Trading Up 0.4 %

Shares of NTST opened at $15.43 on Wednesday. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT has a 1-year low of $13.42 and a 1-year high of $18.97. The stock has a market capitalization of $1.26 billion, a P/E ratio of -257.04 and a beta of 0.99. The business’s 50-day moving average price is $14.49 and its 200 day moving average price is $15.29.

NETSTREIT Announces Dividend

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

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.