NETSTREIT (NYSE:NTST) Reaches New 12-Month Low – Should You Sell?

NETSTREIT Corp. (NYSE:NTST) reached a new 52-week low on Thursday . The stock traded as low as $15.03 and last traded at $15.08, with a volume of 201068 shares. The stock had previously closed at $15.25.

Analyst Upgrades and Downgrades

NTST has been the topic of several research analyst reports. Wedbush initiated coverage on shares of NETSTREIT in a research report on Monday, August 19th. They set a “neutral” rating and a $17.00 price objective on the stock. Stifel Nicolaus decreased their target price 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. 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 target price for the company. Raymond James raised shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $20.00 to $19.00 in a research note on Wednesday, August 21st. Finally, Truist Financial decreased their target price on shares of NETSTREIT from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.03.

NETSTREIT Trading Up 0.1 %

The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -250.08 and a beta of 0.97. The company has a 50-day moving average price of $15.83 and a 200-day moving average price of $16.32.

NETSTREIT (NYSE:NTST) last posted 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 analyst estimates of $41.10 million. During the same quarter in the prior year, the firm earned $0.31 EPS. Research analysts predict that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.60%. NETSTREIT’s dividend payout ratio is presently -1,400.00%.

Institutional Investors Weigh In On NETSTREIT

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of NETSTREIT in the 3rd quarter valued at $169,000. Hohimer Wealth Management LLC acquired a new stake in shares of NETSTREIT in the 3rd quarter valued at $166,000. Geode Capital Management LLC boosted its stake in shares of NETSTREIT by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,980,800 shares of the company’s stock valued at $32,748,000 after purchasing an additional 112,047 shares in the last quarter. Vestcor Inc acquired a new stake in shares of NETSTREIT in the 3rd quarter valued at $913,000. Finally, Barclays PLC raised its holdings in shares of NETSTREIT by 216.9% in the third quarter. Barclays PLC now owns 123,066 shares of the company’s stock valued at $2,033,000 after buying an additional 84,226 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.