NETSTREIT Corp. (NYSE:NTST - Get Free Report) has been given a consensus recommendation of "Buy" by the nine brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.16.
Several analysts have commented on NTST shares. Wells Fargo & Company started coverage on shares of NETSTREIT in a research note on Monday, April 7th. They issued an "overweight" rating and a $18.00 target price for the company. Raymond James reaffirmed a "strong-buy" rating on shares of NETSTREIT in a research note on Friday, May 23rd. Mizuho lifted their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. Finally, Capital One Financial initiated coverage on shares of NETSTREIT in a research note on Wednesday, February 12th. They issued an "overweight" rating for the company.
Read Our Latest Stock Report on NTST
Insider Activity
In other NETSTREIT news, CEO Mark Manheimer bought 3,616 shares of NETSTREIT stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $15.22 per share, for a total transaction of $55,035.52. Following the acquisition, the chief executive officer now owns 295,252 shares of the company's stock, valued at $4,493,735.44. The trade was a 1.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased 12,000 shares of company stock valued at $183,172 in the last ninety days. Company insiders own 0.58% of the company's stock.
Hedge Funds Weigh In On NETSTREIT
Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank lifted its holdings in shares of NETSTREIT by 5.7% during the 4th quarter. Swiss National Bank now owns 152,200 shares of the company's stock valued at $2,154,000 after acquiring an additional 8,200 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in NETSTREIT by 3.0% in the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock worth $94,287,000 after buying an additional 191,846 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in NETSTREIT by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,133,552 shares of the company's stock worth $16,040,000 after buying an additional 55,378 shares in the last quarter. LPL Financial LLC acquired a new position in NETSTREIT in the 4th quarter worth $236,000. Finally, Freestone Grove Partners LP acquired a new position in NETSTREIT in the 4th quarter worth $363,000.
NETSTREIT Trading Down 0.4%
NTST stock traded down $0.07 during midday trading on Monday, hitting $15.97. The stock had a trading volume of 225,855 shares, compared to its average volume of 901,827. The firm has a market cap of $1.30 billion, a PE ratio of -265.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. NETSTREIT has a 12-month low of $13.42 and a 12-month high of $17.53. The company's 50-day moving average price is $15.73 and its 200 day moving average price is $15.12.
NETSTREIT Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.26%. NETSTREIT's dividend payout ratio is presently -560.00%.
About NETSTREIT
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Get Free ReportNETSTREIT 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.
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