NETSTREIT (NYSE:NTST) Rating Increased to Neutral at Bank of America

Key Points

• Bank of America has upgraded NETSTREIT (NYSE:NTST) from an "underperform" rating to a "neutral" rating, raising the target price from $18.00 to $19.00, indicating a potential upside of 3.63% from the stock's previous close.
• Other analysts have also shown optimism, with UBS increasing their target price to $20.00 and maintaining a "buy" rating, contributing to an overall average rating of "Buy" for the stock.
• NETSTREIT's stock is currently trading at $18.34, which marks a 1.9% increase, and the company has a market capitalization of $1.53 billion.

NETSTREIT (NYSE:NTST - Get Free Report) was upgraded by equities research analysts at Bank of America from an "underperform" rating to a "neutral" rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm currently has a $19.00 price objective on the stock, up from their previous price objective of $18.00. Bank of America's price objective would indicate a potential upside of 4.31% from the company's current price.

Several other equities analysts have also issued reports on NTST. Mizuho lifted their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an "overweight" rating and a $18.00 price target for the company. UBS Group upped their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research note on Friday, July 25th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of NETSTREIT in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $18.83.

NETSTREIT Stock Down 1.4%

NYSE NTST traded down $0.27 on Monday, hitting $18.22. The stock had a trading volume of 760,245 shares, compared to its average volume of 1,008,840. The business's fifty day moving average price is $16.88 and its 200 day moving average price is $15.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83. NETSTREIT has a 52-week low of $13.42 and a 52-week high of $18.80. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -227.44, a price-to-earnings-growth ratio of 4.29 and a beta of 0.89.

Institutional Investors Weigh In On NETSTREIT

Hedge funds and other institutional investors have recently modified their holdings of the company. Cohen & Steers Inc. raised its holdings in shares of NETSTREIT by 3.0% in the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock valued at $94,287,000 after purchasing an additional 191,846 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in NETSTREIT during the 1st quarter worth $2,389,000. LPL Financial LLC acquired a new stake in NETSTREIT during the 4th quarter worth $236,000. Freestone Grove Partners LP acquired a new stake in NETSTREIT during the 4th quarter worth $363,000. Finally, Raymond James Financial Inc. acquired a new stake in NETSTREIT during the 4th quarter worth $927,000.

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.