NETSTREIT (NYSE:NTST) Sets New 1-Year High - Here's What Happened

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.

NETSTREIT Corp. (NYSE:NTST - Get Free Report)'s stock price hit 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. The stock had previously closed at $18.23.

Wall Street Analysts Forecast Growth

NTST has been the topic of several research analyst reports. Robert W. Baird increased their price objective on NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $18.00 to $19.00 in a research note on Monday, July 28th. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Truist Financial set a $19.00 price objective on NETSTREIT in a research note on Friday, July 25th. Finally, UBS Group increased their price objective on NETSTREIT from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, NETSTREIT currently has an average rating of "Buy" and a consensus price target of $18.83.

NETSTREIT Stock Performance

The business has a fifty day simple moving average of $17.25 and a two-hundred day simple moving average of $15.93. 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 company has a market cap of $1.55 billion, a PE ratio of -231.81, a price-to-earnings-growth ratio of 4.27 and a beta of 0.89.

NETSTREIT Increases Dividend

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

Institutional Trading of NETSTREIT

A number of hedge funds have recently bought and sold shares of NTST. Assetmark Inc. lifted its holdings in NETSTREIT by 126.3% during the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock worth $34,000 after buying an additional 1,200 shares during the period. CWM LLC lifted its holdings in shares of NETSTREIT by 78.2% during the 1st 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 purchased a new stake in shares of NETSTREIT during the 4th quarter valued at $41,000. State of Wyoming purchased a new stake in shares of NETSTREIT during the 1st quarter valued at $58,000. Finally, GAMMA Investing LLC lifted its holdings in shares of NETSTREIT by 2,779.7% during the 1st 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.

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.