NETSTREIT Corp. (NYSE:NTST) Given Average Rating of "Buy" by Analysts

Shares of NETSTREIT Corp. (NYSE:NTST - Get Free Report) have been given a consensus recommendation of "Buy" by the nine research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $18.16.

A number of analysts recently issued reports on NTST shares. Wells Fargo & Company started coverage on NETSTREIT in a research note on Monday, April 7th. They set an "overweight" rating and a $18.00 price objective on the stock. Raymond James reiterated a "strong-buy" rating on shares of NETSTREIT in a research note on Friday, May 23rd. Mizuho boosted their price objective on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Finally, Capital One Financial started coverage on NETSTREIT in a research note on Wednesday, February 12th. They set an "overweight" rating on the stock.

NETSTREIT Stock Performance

Shares of NYSE NTST traded up $0.16 during trading on Monday, reaching $16.05. 1,028,561 shares of the stock traded hands, compared to its average volume of 941,843. NETSTREIT has a 52-week low of $13.42 and a 52-week high of $17.53. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.11 and a quick ratio of 4.11. The company has a 50-day moving average of $15.71 and a 200-day moving average of $15.11. The stock has a market capitalization of $1.31 billion, a P/E ratio of -267.37 and a beta of 0.90.

NETSTREIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 5.24%. NETSTREIT's dividend payout ratio is currently -560.00%.

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer bought 3,616 shares of the firm's stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $15.22 per share, for a total transaction of $55,035.52. Following the purchase, the chief executive officer now directly owns 295,252 shares of the company's stock, valued at $4,493,735.44. The trade was a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 12,000 shares of company stock worth $183,172 in the last ninety days. 0.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NETSTREIT

Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in NETSTREIT by 126.3% in the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company's stock worth $34,000 after acquiring an additional 1,200 shares during the last quarter. CWM LLC increased its position in shares of NETSTREIT by 78.2% during the 1st quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after purchasing an additional 989 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of NETSTREIT during the 4th quarter valued at about $41,000. State of Wyoming bought a new position in shares of NETSTREIT during the 1st quarter valued at about $58,000. Finally, PNC Financial Services Group Inc. increased its position in shares of NETSTREIT by 861.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,430 shares of the company's stock valued at $77,000 after purchasing an additional 4,865 shares during the last quarter.

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.