NETSTREIT Corp. (NYSE:NTST) Given Consensus Rating of "Buy" by Brokerages

Key Points

• NETSTREIT Corp. (NYSE:NTST) has received a consensus recommendation of "Buy" from eleven brokerages, with an average 12-month price target of $18.83.
• The company recently increased its quarterly dividend to $0.215, which represents a yield of 4.6%, successful in attracting more institutional investors.
• NETSTREIT's stock performance shows stability with a market capitalization of $1.55 billion and a fifty-day moving average price of $17.25.

NETSTREIT Corp. (NYSE:NTST - Get Free Report) has been given a consensus recommendation of "Buy" by the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $18.8250.

NTST has been the topic of several recent analyst reports. Truist Financial set a $19.00 price target on NETSTREIT in a research note on Friday, July 25th. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price target on shares of NETSTREIT in a research note on Wednesday, July 30th. Robert W. Baird boosted their price target on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $18.00 to $19.00 in a research report on Monday, July 28th. Finally, UBS Group upped their target price on NETSTREIT from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th.

Institutional Investors Weigh In On NETSTREIT

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in NETSTREIT by 4.0% during the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock worth $131,170,000 after buying an additional 315,888 shares in the last quarter. Principal Financial Group Inc. grew its holdings in NETSTREIT by 61.3% during the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock worth $122,708,000 after buying an additional 2,941,600 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in NETSTREIT by 5.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company's stock worth $96,703,000 after buying an additional 354,973 shares in the last quarter. Cohen & Steers Inc. grew its holdings in NETSTREIT by 3.0% during the fourth 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. Finally, Lasalle Investment Management Securities LLC grew its holdings in NETSTREIT by 13.8% during the second quarter. Lasalle Investment Management Securities LLC now owns 3,836,565 shares of the company's stock worth $64,953,000 after buying an additional 464,980 shares in the last quarter.

NETSTREIT Trading Up 0.3%

NTST traded up $0.05 during trading on Friday, hitting $18.78. The company's stock had a trading volume of 286,936 shares, compared to its average volume of 1,020,791. NETSTREIT has a twelve month low of $13.42 and a twelve month high of $18.95. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. The stock's fifty day moving average price is $17.36 and its 200-day moving average price is $16.01. The firm has a market capitalization of $1.57 billion, a P/E ratio of -234.94, a PEG ratio of 4.27 and a beta of 0.89.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 4.6%. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's dividend payout ratio is currently -1,050.00%.

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.