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

Shares of NETSTREIT Corp. (NYSE:NTST) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $17.88.

Several analysts have commented on NTST shares. Raymond James upgraded NETSTREIT from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Wedbush initiated coverage on NETSTREIT in a research note on Monday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. Finally, Scotiabank dropped their price target on NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th.

NETSTREIT Stock Performance

NETSTREIT stock opened at $16.28 on Wednesday. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $1.19 billion, a P/E ratio of 180.89 and a beta of 0.97. The stock’s 50 day moving average is $16.56 and its 200 day moving average is $16.93. NETSTREIT has a twelve month low of $13.49 and a twelve month high of $18.97.

NETSTREIT (NYSE:NTST) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.33). NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. The company had revenue of $39.57 million during the quarter, compared to analysts’ expectations of $39.31 million. During the same quarter in the previous year, the company earned $0.30 EPS. On average, equities research analysts predict that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 5.16%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is presently 933.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of NETSTREIT during the 2nd quarter valued at approximately $45,000. Parallel Advisors LLC grew its stake in shares of NETSTREIT by 702.3% during the 4th quarter. Parallel Advisors LLC now owns 3,442 shares of the company’s stock valued at $61,000 after acquiring an additional 3,013 shares during the period. Point72 DIFC Ltd bought a new position in shares of NETSTREIT during the 2nd quarter valued at approximately $83,000. Quadrant Capital Group LLC grew its stake in shares of NETSTREIT by 204.9% during the 4th quarter. Quadrant Capital Group LLC now owns 8,361 shares of the company’s stock valued at $149,000 after acquiring an additional 5,619 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of NETSTREIT by 13.7% during the 2nd 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 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.