NETSTREIT (NYSE:NTST) Stock Price Target Cut by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut NETSTREIT’s price target from $25 to $21 while maintaining an “overweight” rating, implying 22.9% upside from the prior close.
• Several analysts also lowered their targets, but sentiment remains positive: 12 analysts rate the stock a Buy and two a Hold, producing a “Moderate Buy” consensus and average target of $21.94.
• NETSTREIT reported quarterly EPS of $0.08, slightly below the $0.09 estimate, while revenue of $66.26 million exceeded expectations of $60.55 million. Shares opened at $17.09, near the company’s 52-week low of $16.18.

NETSTREIT (NYSE:NTST - Get Free Report) had its target price dropped by research analysts at Cantor Fitzgerald from $25.00 to $21.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price would suggest a potential upside of 22.90% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company reduced their price target on NETSTREIT from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Monday. Stifel Nicolaus lowered their price target on NETSTREIT from $23.50 to $21.25 and set a "buy" rating on the stock in a research report on Thursday. BTIG Research raised their price objective on NETSTREIT from $22.00 to $24.00 and gave the company a "buy" rating in a report on Friday, June 26th. Scotiabank cut their price objective on NETSTREIT from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research report on Thursday, September 24th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $25.00 target price on shares of NETSTREIT in a research note on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, NETSTREIT has an average rating of "Moderate Buy" and a consensus target price of $21.94.

NETSTREIT Trading Up 3.7%

Shares of NETSTREIT stock opened at $17.09 on Friday. The firm has a 50-day simple moving average of $18.85 and a two-hundred day simple moving average of $20.04. The company has a market cap of $1.73 billion, a P/E ratio of 113.91, a price-to-earnings-growth ratio of 2.14 and a beta of 0.80. NETSTREIT has a fifty-two week low of $16.18 and a fifty-two week high of $22.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.54 and a current ratio of 3.55.

NETSTREIT (NYSE:NTST - Get Free Report) last posted its earnings results on Wednesday, October 21st. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). NETSTREIT had a return on equity of 1.44% and a net margin of 9.18%. The firm had revenue of $66.26 million for the quarter, compared to analysts' expectations of $60.55 million. As a group, equities analysts predict that NETSTREIT will post 1.30 earnings per share for the current fiscal year.

Institutional Trading of NETSTREIT

Institutional investors and hedge funds have recently modified their holdings of the stock. Inspire Investing LLC raised its holdings in shares of NETSTREIT by 115,850.0% during the third quarter. Inspire Investing LLC now owns 2,319 shares of the company's stock valued at $41,000 after acquiring an additional 2,317 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of NETSTREIT by 43.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,261 shares of the company's stock valued at $517,000 after acquiring an additional 8,827 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of NETSTREIT by 62.0% in the third quarter. GAMMA Investing LLC now owns 1,967 shares of the company's stock worth $35,000 after acquiring an additional 753 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of NETSTREIT by 1,163.1% in the third quarter. Versant Capital Management Inc now owns 1,642 shares of the company's stock worth $29,000 after acquiring an additional 1,512 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of NETSTREIT in the second quarter worth approximately $1,682,000.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust focused on owning and managing outpatient healthcare properties in the United States. The company invests primarily in facilities that provide essential medical services, including physician offices, ambulatory care centers and other outpatient healthcare locations.

NETSTREIT generally leases its properties to healthcare providers under long-term, triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property taxes, insurance and maintenance expenses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.