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

NETSTREIT Corp. (NYSE:NTST - Get Free Report) has been assigned a consensus recommendation of "Buy" from the nine analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.03.

A number of analysts have commented on NTST shares. Raymond James reduced their target price on shares of NETSTREIT from $19.00 to $17.00 and set a "strong-buy" rating for the company in a report on Friday, January 17th. Mizuho lifted their price target on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, April 3rd. Capital One Financial started coverage on NETSTREIT in a research note on Wednesday, February 12th. They issued an "overweight" rating on the stock. Finally, Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday. They set an "overweight" rating and a $18.00 target price on the stock.

NETSTREIT Stock Down 0.1 %

NTST traded down $0.01 during trading on Friday, hitting $15.09. 1,080,672 shares of the company's stock traded hands, compared to its average volume of 915,921. NETSTREIT has a 12-month low of $13.42 and a 12-month high of $18.10. The company's 50 day simple moving average is $14.88 and its two-hundred day simple moving average is $15.12. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -251.41 and a beta of 0.91. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.57.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend was Friday, March 14th. NETSTREIT's payout ratio is -525.00%.

Insiders Place Their Bets

In other news, CEO Mark Manheimer acquired 6,384 shares of NETSTREIT stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $15.33 per share, for a total transaction of $97,866.72. Following the completion of the purchase, the chief executive officer now directly owns 304,572 shares in the company, valued at $4,669,088.76. This trade represents a 2.14 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 12,000 shares of company stock worth $183,172 over the last 90 days. Company insiders own 0.46% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in NETSTREIT by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 7,959,793 shares of the company's stock valued at $112,631,000 after buying an additional 234,695 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of NETSTREIT by 5.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company's stock valued at $96,703,000 after acquiring an additional 354,973 shares during the period. Cohen & Steers Inc. raised 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 purchasing an additional 191,846 shares during the period. Principal Financial Group Inc. boosted its position in NETSTREIT by 46.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,800,208 shares of the company's stock worth $67,924,000 after purchasing an additional 1,521,668 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC grew its holdings in NETSTREIT by 30.8% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock valued at $48,807,000 after purchasing an additional 811,632 shares during the period.

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.