NETSTREIT Corp. (NYSE:NTST) Receives Average Rating of "Buy" from Brokerages

Key Points

• NETSTREIT Corp. has received a consensus recommendation of "Buy" from ten research firms, with one strong buy and eight buy ratings.
• The average target price for NETSTREIT's stock is $19.58, reflecting positive sentiment among analysts.
• The company has increased its quarterly dividend to $0.215 per share, resulting in a 4.8% annualized yield.

Shares of NETSTREIT Corp. (NYSE:NTST - Get Free Report) have been assigned a consensus rating of "Buy" from the ten ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $19.5833.

Several equities research analysts recently weighed in on NTST shares. Truist Financial set a $19.00 price target on NETSTREIT in a research report on Friday, July 25th. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. UBS Group lifted their price objective on NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Bank of America upgraded NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $18.00 to $19.00 in a research note on Monday, July 28th. Finally, Wells Fargo & Company lifted their price objective on NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th.

Institutional Trading of NETSTREIT

A number of hedge funds have recently bought and sold shares of NTST. Principal Financial Group Inc. increased its position in NETSTREIT by 61.3% during the first quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock valued at $122,708,000 after acquiring an additional 2,941,600 shares during the last quarter. Nuveen LLC purchased a new stake in shares of NETSTREIT in the first quarter worth about $18,181,000. MetLife Investment Management LLC lifted its position in shares of NETSTREIT by 1,992.5% in the first quarter. MetLife Investment Management LLC now owns 1,023,171 shares of the company's stock worth $16,217,000 after buying an additional 974,275 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in shares of NETSTREIT by 195.9% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,338,746 shares of the company's stock worth $18,943,000 after buying an additional 886,283 shares in the last quarter. Finally, DigitalBridge Group Inc. raised its position in NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after purchasing an additional 879,168 shares during the period.

NETSTREIT Trading Up 0.5%

Shares of NTST stock traded up $0.09 during trading hours on Wednesday, reaching $17.95. The company's stock had a trading volume of 866,841 shares, compared to its average volume of 1,027,235. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. NETSTREIT has a one year low of $13.42 and a one year high of $19.18. The stock has a market capitalization of $1.50 billion, a P/E ratio of -224.38, a P/E/G ratio of 4.04 and a beta of 0.89. The firm's fifty day simple moving average is $18.01 and its 200 day simple moving average is $16.47.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.215 dividend. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's dividend payout ratio (DPR) is presently -1,075.00%.

NETSTREIT Company Profile

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.