NETSTREIT Corp. (NYSE:NTST) Given Consensus Recommendation of “Moderate Buy” by Brokerages

NETSTREIT Corp. (NYSE:NTST) has received a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.30.

A number of equities research analysts have recently issued reports on the stock. Wedbush assumed coverage on shares of NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. Stifel Nicolaus cut their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $16.00 to $18.00 in a research note on Monday. UBS Group began coverage on shares of NETSTREIT in a research note on Monday, October 14th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Raymond James upgraded shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $20.00 to $19.00 in a report on Wednesday, August 21st.

Institutional Trading of NETSTREIT

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Silvercrest Asset Management Group LLC grew its position in NETSTREIT by 22.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,007,072 shares of the company’s stock valued at $18,500,000 after purchasing an additional 183,058 shares during the last quarter. Vanguard Group Inc. grew its position in NETSTREIT by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock valued at $135,062,000 after purchasing an additional 566,513 shares during the last quarter. Russell Investments Group Ltd. grew its position in NETSTREIT by 64.9% during the 1st quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company’s stock valued at $29,277,000 after purchasing an additional 627,514 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in NETSTREIT by 32.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 134,914 shares of the company’s stock valued at $2,478,000 after purchasing an additional 32,688 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in NETSTREIT by 343.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 75,155 shares of the company’s stock valued at $1,331,000 after purchasing an additional 58,201 shares during the last quarter.

NETSTREIT Price Performance

NTST stock opened at $16.10 on Thursday. The firm has a 50 day moving average of $16.21 and a 200-day moving average of $16.59. The company has a current ratio of 4.11, a quick ratio of 4.08 and a debt-to-equity ratio of 0.57. NETSTREIT has a 12 month low of $14.92 and a 12 month high of $18.97. The firm has a market capitalization of $1.31 billion, a P/E ratio of -268.29 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). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The company had revenue of $41.44 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same period in the prior year, the firm earned $0.31 EPS. As a group, sell-side analysts predict that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 5.22%. NETSTREIT’s dividend payout ratio (DPR) is presently -1,399.77%.

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.