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

Key Points

• NETSTREIT Corp. has received a consensus rating of "Buy" from ten brokerage firms, with an average target price of $19.92.
• CEO Mark Manheimer purchased 5,600 shares of NETSTREIT at an average price of $17.93, increasing his ownership stake in the company.
• The company recently increased its quarterly dividend to $0.215, reflecting a yield of 4.8% for shareholders.

NETSTREIT Corp. (NYSE:NTST - Get Free Report) has earned an average rating of "Buy" from the ten brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $19.9167.

Several analysts have recently commented on the stock. UBS Group lifted their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Robert W. Baird lifted their target price on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Raymond James Financial reiterated a "strong-buy" rating and set a $21.00 price target on shares of NETSTREIT in a report on Wednesday, July 30th. Wells Fargo & Company boosted their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Finally, Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research note on Friday, July 25th.

Insider Transactions at NETSTREIT

In related news, CEO Mark Manheimer acquired 5,600 shares of NETSTREIT stock in a transaction on Friday, September 5th. The stock was purchased at an average cost of $17.93 per share, with a total value of $100,408.00. Following the purchase, the chief executive officer directly owned 316,378 shares in the company, valued at approximately $5,672,657.54. The trade was a 1.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is owned by company insiders.

Institutional Trading of NETSTREIT

Several large investors have recently modified their holdings of the business. Strs Ohio acquired a new position in NETSTREIT in the 1st quarter valued at $8,676,000. Wedge Capital Management L L P NC purchased a new stake in shares of NETSTREIT during the 1st quarter valued at about $2,389,000. Vanguard Group Inc. lifted its holdings in NETSTREIT by 4.0% in the 1st 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. Swiss National Bank boosted its stake in shares of NETSTREIT by 3.9% during the 1st quarter. Swiss National Bank now owns 158,100 shares of the company's stock valued at $2,506,000 after buying an additional 5,900 shares during the last quarter. Finally, New Age Alpha Advisors LLC grew its stake in NETSTREIT by 173.5% in the first quarter. New Age Alpha Advisors LLC now owns 170,667 shares of the company's stock worth $2,705,000 after purchasing an additional 108,274 shares in the last quarter.

NETSTREIT Stock Performance

NYSE:NTST opened at $17.95 on Friday. NETSTREIT has a fifty-two week low of $13.42 and a fifty-two week high of $19.18. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. The company has a fifty day moving average of $18.30 and a two-hundred day moving average of $16.86. The stock has a market capitalization of $1.50 billion, a PE ratio of -224.34, a P/E/G ratio of 4.11 and a beta of 0.89.

NETSTREIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.215 dividend. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was 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.

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