NETSTREIT (NYSE:NTST) Hits New 12-Month High - Time to Buy?

NETSTREIT Corp. (NYSE:NTST - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $17.73 and last traded at $17.70, with a volume of 523153 shares. The stock had previously closed at $17.36.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NTST. Raymond James Financial reaffirmed a "strong-buy" rating on shares of NETSTREIT in a research report on Friday, May 23rd. Wells Fargo & Company initiated coverage on NETSTREIT in a research report on Monday, April 7th. They set an "overweight" rating and a $18.00 target price on the stock. Finally, Mizuho increased their price target on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $18.16.

NETSTREIT Stock Performance

The business has a fifty day moving average of $16.33 and a 200 day moving average of $15.38. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 0.69. The company has a market cap of $1.45 billion, a P/E ratio of -117.97, a P/E/G ratio of 5.06 and a beta of 0.89.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 4.75%. NETSTREIT's payout ratio is -560.00%.

Hedge Funds Weigh In On NETSTREIT

A number of hedge funds have recently added to or reduced their stakes in NTST. Hohimer Wealth Management LLC boosted its position in NETSTREIT by 6.2% in the first quarter. Hohimer Wealth Management LLC now owns 11,538 shares of the company's stock worth $183,000 after purchasing an additional 677 shares during the last quarter. Amundi boosted its holdings in shares of NETSTREIT by 1.6% in the first quarter. Amundi now owns 45,361 shares of the company's stock worth $709,000 after buying an additional 704 shares during the last quarter. American Century Companies Inc. grew its position in NETSTREIT by 3.3% during the fourth quarter. American Century Companies Inc. now owns 24,400 shares of the company's stock valued at $345,000 after buying an additional 781 shares during the period. Daiwa Securities Group Inc. increased its holdings in NETSTREIT by 3.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,383 shares of the company's stock valued at $373,000 after buying an additional 789 shares during the last quarter. Finally, Arizona State Retirement System raised its position in NETSTREIT by 4.2% in the first quarter. Arizona State Retirement System now owns 23,401 shares of the company's stock worth $371,000 after acquiring an additional 945 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.

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