NETSTREIT (NYSE:NTST) Rating Increased to Sector Outperform at Scotiabank

Scotiabank upgraded shares of NETSTREIT (NYSE:NTST) from a sector perform rating to a sector outperform rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have $18.00 price objective on the stock, up from their previous price objective of $16.00.

Other equities analysts have also recently issued research reports about the company. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $20.00 to $19.00 in a report on Wednesday, August 21st. Wedbush assumed coverage on shares of NETSTREIT in a research note on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price for the company. UBS Group started coverage on shares of NETSTREIT in a research note on Monday, October 14th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, seven 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 $18.30.

NETSTREIT Trading Down 0.2 %

Shares of NTST stock opened at $16.10 on Monday. The company has a quick ratio of 4.08, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. NETSTREIT has a fifty-two week low of $14.92 and a fifty-two week high of $18.97. The firm’s 50 day moving average price is $16.21 and its two-hundred day moving average price is $16.59. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -268.29 and a beta of 0.97.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.07) earnings per share 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 business had revenue of $41.44 million for the quarter, compared to analysts’ expectations of $41.10 million. During the same period last year, the company posted $0.31 earnings per share. On average, analysts anticipate that NETSTREIT will post 1.19 EPS for the current year.

NETSTREIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.22%. NETSTREIT’s payout ratio is -1,399.77%.

Institutional Investors Weigh In On NETSTREIT

Several institutional investors and hedge funds have recently made changes to their positions in NTST. Intech Investment Management LLC bought a new stake in shares of NETSTREIT during the 3rd quarter valued at about $324,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in NETSTREIT in the third quarter valued at approximately $1,563,000. Quest Partners LLC grew its holdings in shares of NETSTREIT by 1,948.0% during the third quarter. Quest Partners LLC now owns 256,351 shares of the company’s stock valued at $4,237,000 after purchasing an additional 243,834 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of NETSTREIT by 52.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 364,987 shares of the company’s stock worth $6,033,000 after purchasing an additional 125,076 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in shares of 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.

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.