NETSTREIT (NYSE:NTST) Reaches New 52-Week High - Still a Buy?

Key Points

• NETSTREIT Corp. reached a new 52-week high share price of $18.53, with a last traded price of $18.37 and a trading volume of 29,169 shares.
• The company has received various analyst upgrades, notably a "strong-buy" rating from Raymond James and increased price targets from Mizuho and UBS Group, now set at $20.00.
• NETSTREIT declared a quarterly dividend of $0.215, representing a 4.60% yield, an increase from the previous dividend of $0.21.

NETSTREIT Corp. (NYSE:NTST - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $18.53 and last traded at $18.37, with a volume of 29169 shares trading hands. The stock had previously closed at $18.39.

Analyst Upgrades and Downgrades

NTST has been the subject of a number of research reports. Raymond James Financial reissued a "strong-buy" rating on shares of NETSTREIT in a research note on Friday, May 23rd. Mizuho increased their price target on NETSTREIT from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. Robert W. Baird increased their price target on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday. UBS Group increased their price target on NETSTREIT from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and increased their price target for the company from $18.00 to $19.00 in a research note on Monday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NETSTREIT currently has a consensus rating of "Buy" and an average price target of $18.53.

NETSTREIT Stock 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 firm has a fifty day moving average price of $16.72 and a two-hundred day moving average price of $15.66. The stock has a market capitalization of $1.56 billion, a PE ratio of -233.69 and a beta of 0.89.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 4.60%. 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 dividend payout ratio is presently -1,050.00%.

Institutional Investors Weigh In On NETSTREIT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hohimer Wealth Management LLC increased its holdings in NETSTREIT by 6.2% during the 1st 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 period. Amundi boosted its position in NETSTREIT by 1.6% during the 1st quarter. Amundi now owns 45,361 shares of the company's stock valued at $709,000 after acquiring an additional 704 shares in the last quarter. American Century Companies Inc. boosted its position in NETSTREIT by 3.3% during the 4th quarter. American Century Companies Inc. now owns 24,400 shares of the company's stock valued at $345,000 after acquiring an additional 781 shares in the last quarter. Arizona State Retirement System boosted its position in NETSTREIT by 4.2% during the 1st quarter. Arizona State Retirement System now owns 23,401 shares of the company's stock valued at $371,000 after acquiring an additional 945 shares in the last quarter. Finally, CWM LLC boosted its position in 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 acquiring an additional 989 shares in 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.

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