NETSTREIT (NYSE:NTST) Reaches New 1-Year High - Still a Buy?

NETSTREIT Corp. (NYSE:NTST - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $18.01 and last traded at $17.98, with a volume of 1845542 shares changing hands. The stock had previously closed at $17.58.

Analyst Ratings Changes

Several research firms have recently weighed in on NTST. UBS Group lifted their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wells Fargo & Company assumed coverage on shares of NETSTREIT in a research note on Monday, April 7th. They issued an "overweight" rating and a $18.00 price objective for the company. Robert W. Baird lifted their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday. Mizuho lifted their price objective on shares of NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of NETSTREIT in a research note on Friday, May 23rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, NETSTREIT has an average rating of "Buy" and an average target price of $18.47.

NETSTREIT Price Performance

The business's 50 day moving average is $16.67 and its two-hundred day moving average is $15.60. The firm has a market capitalization of $1.48 billion, a PE ratio of -226.06, a P/E/G ratio of 5.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.95 and a quick ratio of 3.95.

NETSTREIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.215 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.86 annualized dividend and a dividend yield of 4.76%. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio (DPR) is currently -560.00%.

Hedge Funds Weigh In On NETSTREIT

Several institutional investors and hedge funds have recently made changes to their positions in NTST. 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 worth $34,000 after purchasing an additional 1,200 shares during the last quarter. 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 worth $36,000 after purchasing an additional 989 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of NETSTREIT in the fourth quarter worth approximately $41,000. State of Wyoming bought a new position in shares of NETSTREIT in the first quarter worth approximately $58,000. Finally, GAMMA Investing LLC grew its holdings in shares of NETSTREIT by 2,779.7% in the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock worth $115,000 after purchasing an additional 6,977 shares during the last quarter.

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.