NETSTREIT (NYSE:NTST) Sets New 12-Month High - Time to 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 stock price hit a new 52-week high on Monday . The company traded as high as $18.53 and last traded at $18.37, with a volume of 29169 shares traded. The stock had previously closed at $18.39.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NTST shares. Mizuho upped their target price on shares of NETSTREIT from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Thursday, April 3rd. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $18.00 to $19.00 in a research report on Monday. Wells Fargo & Company started coverage on shares of NETSTREIT in a research report on Monday, April 7th. They set an "overweight" rating and a $18.00 target price for the company. Raymond James Financial restated a "strong-buy" rating and set a $21.00 target price on shares of NETSTREIT in a research report on Wednesday. Finally, Robert W. Baird upped their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Two investment 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $18.83.

NETSTREIT Stock Down 1.5%

The firm has a market capitalization of $1.52 billion, a PE ratio of -227.63, a PEG ratio of 4.29 and a beta of 0.89. The business's 50 day simple moving average is $16.88 and its 200 day simple moving average is $15.73. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70.

NETSTREIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. NETSTREIT's dividend payout ratio is presently -1,050.00%.

Hedge Funds Weigh In On NETSTREIT

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of NETSTREIT by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock worth $131,170,000 after purchasing an additional 315,888 shares during the period. Principal Financial Group Inc. boosted its stake in shares of NETSTREIT by 61.3% during the 1st quarter. Principal Financial Group Inc. now owns 7,741,808 shares of the company's stock worth $122,708,000 after purchasing an additional 2,941,600 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of NETSTREIT by 5.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,834,118 shares of the company's stock worth $96,703,000 after purchasing an additional 354,973 shares during the period. Cohen & Steers Inc. boosted its stake in shares of NETSTREIT by 3.0% during the 4th quarter. Cohen & Steers Inc. now owns 6,663,409 shares of the company's stock worth $94,287,000 after purchasing an additional 191,846 shares during the period. Finally, Lasalle Investment Management Securities LLC boosted its stake in shares of NETSTREIT by 30.8% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,449,229 shares of the company's stock worth $48,807,000 after purchasing an additional 811,632 shares during the period.

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.