NETSTREIT (NYSE:NTST) Sets New 52-Week High - Time to Buy?

Key Points

• NETSTREIT's stock reached a new 52-week high of $18.93 during trading, with analysts predicting a continued upward trend and assigning price targets up to $21.00.
• The company has announced an increased quarterly dividend of $0.215, reflecting a 4.6% yield for investors.
• Institutional interest in NETSTREIT is strong, with multiple firms increasing their stakes in the company recently.

Shares of NETSTREIT Corp. (NYSE:NTST - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.93 and last traded at $18.44, with a volume of 2137113 shares changing hands. The stock had previously closed at $18.23.

Analysts Set New Price Targets

A number of research analysts have recently commented on NTST shares. Robert W. Baird upped their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Truist Financial set a $19.00 target price on shares of NETSTREIT in a research note on Friday, July 25th. Bank of America raised shares of NETSTREIT from an "underperform" rating to a "neutral" rating and upped their target price for the company from $18.00 to $19.00 in a research note on Monday, July 28th. UBS Group upped their target price 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. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 target price on shares of NETSTREIT in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $18.83.

NETSTREIT Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83. The stock has a market capitalization of $1.56 billion, a P/E ratio of -232.88, a PEG ratio of 4.31 and a beta of 0.89. The company's 50 day simple moving average is $17.10 and its two-hundred day simple moving average is $15.86.

NETSTREIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.6%. This is an increase from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, September 2nd. NETSTREIT's payout ratio is currently -1,050.00%.

Institutional Trading of NETSTREIT

Hedge funds have recently modified their holdings of the stock. Assetmark Inc. grew its stake in shares of NETSTREIT by 126.3% during 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 last quarter. CWM LLC grew its stake in shares of NETSTREIT by 78.2% during 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 last quarter. Lazard Asset Management LLC bought a new stake in shares of NETSTREIT during the fourth quarter valued at approximately $41,000. State of Wyoming bought a new stake in shares of NETSTREIT during the first quarter valued at approximately $58,000. Finally, GAMMA Investing LLC grew its stake in shares of NETSTREIT by 2,779.7% during the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock valued at $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.