NETSTREIT (NYSE:NTST) Reaches New 1-Year High - Here's Why

Key Points

• NETSTREIT Corp. (NYSE:NTST) hit a new 52-week high of $19.63 during trading, reflecting strong investor interest and a volume of over 211,000 shares.
• Analysts are optimistic about NETSTREIT, with price targets being adjusted upwards, most recently by UBS Group to $21.00, while maintaining a strong buy rating.
• Insider activity remains positive as CEO Mark Manheimer purchased 5,600 shares recently, demonstrating confidence in the company's prospects.

NETSTREIT Corp. (NYSE:NTST - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $19.63 and last traded at $19.62, with a volume of 211348 shares. The stock had previously closed at $19.29.

Wall Street Analyst Weigh In

NTST has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Wells Fargo & Company increased their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Truist Financial set a $19.00 price objective on shares of NETSTREIT in a research report on Friday, July 25th. UBS Group upped their price objective on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of NETSTREIT in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.20.

NETSTREIT Price Performance

The stock's 50-day moving average price is $18.39 and its 200 day moving average price is $17.28. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -241.56, a PEG ratio of 3.12 and a beta of 0.90. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70.

Insider Activity at NETSTREIT

In other NETSTREIT news, CEO Mark Manheimer bought 5,600 shares of NETSTREIT stock in a transaction dated Friday, September 5th. The stock was acquired at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the completion of the transaction, the chief executive officer directly owned 316,378 shares of the company's stock, valued at approximately $5,672,657.54. This represents a 1.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On NETSTREIT

A number of hedge funds have recently modified their holdings of NTST. EverSource Wealth Advisors LLC grew its holdings in shares of NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company's stock valued at $30,000 after purchasing an additional 1,640 shares during the period. Assetmark Inc. grew its holdings in shares of NETSTREIT by 126.3% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock valued at $34,000 after purchasing an additional 1,200 shares during the period. CWM LLC grew its holdings in shares of NETSTREIT by 78.2% in the first quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after purchasing an additional 989 shares during the period. State of Wyoming purchased a new stake in shares of NETSTREIT in the first quarter valued at about $58,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of NETSTREIT in the second quarter valued at about $185,000.

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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