NETSTREIT (NYSE:NTST) Reaches New 52-Week High - What's Next?

Key Points

• NETSTREIT Corp. reached a new 52-week high with shares trading as high as $19.18, indicating strong market performance.
• Analysts have increased price targets for NETSTREIT, with several firms, including UBS Group and Berenberg Bank, issuing "buy" ratings and setting targets between $21.00 and $22.00.
• The company declared a quarterly dividend of $0.215 per share, reflecting a growth from its previous dividend rate and providing a yield of 4.5%.

NETSTREIT Corp. (NYSE:NTST - Get Free Report)'s share price reached a new 52-week high on Friday . The company traded as high as $19.18 and last traded at $19.08, with a volume of 188461 shares. The stock had previously closed at $19.02.

Analysts Set New Price Targets

NTST has been the topic of several analyst reports. UBS Group upped their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a report on Friday, August 15th. Berenberg Bank began coverage on shares of NETSTREIT in a research note on Monday. They issued a "buy" rating and a $22.00 price objective on the stock. Cantor Fitzgerald started coverage on shares of NETSTREIT in a research report on Wednesday, October 1st. They set an "overweight" rating and a $21.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Finally, Scotiabank reissued an "outperform" rating on shares of NETSTREIT in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, NETSTREIT presently has an average rating of "Moderate Buy" and a consensus target price of $20.20.

NETSTREIT Trading Up 0.3%

The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -238.56, a PEG ratio of 3.08 and a beta of 0.90. The business's 50-day simple moving average is $18.34 and its two-hundred day simple moving average is $17.15. The company has a quick ratio of 3.83, a current 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 was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.215 per share. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, September 2nd. This represents a $0.86 annualized dividend and a yield of 4.5%. NETSTREIT's dividend payout ratio (DPR) is presently -1,075.00%.

Insider Activity

In other NETSTREIT news, CEO Mark Manheimer purchased 5,600 shares of NETSTREIT stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average price of $17.93 per share, for a total transaction of $100,408.00. Following the transaction, the chief executive officer directly owned 316,378 shares in the company, valued at $5,672,657.54. This trade represents a 1.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On NETSTREIT

Several hedge funds and other institutional investors have recently modified their holdings of NTST. CWM LLC lifted its holdings in NETSTREIT by 33.0% in the 3rd quarter. CWM LLC now owns 6,233 shares of the company's stock valued at $113,000 after acquiring an additional 1,546 shares during the last quarter. IFM Investors Pty Ltd boosted its position in shares of NETSTREIT by 16.2% in the third quarter. IFM Investors Pty Ltd now owns 15,290 shares of the company's stock valued at $275,000 after acquiring an additional 2,128 shares during the period. Squarepoint Ops LLC lifted its position in NETSTREIT by 57.0% in the second quarter. Squarepoint Ops LLC now owns 58,762 shares of the company's stock worth $995,000 after purchasing an additional 21,329 shares during the period. TT Capital Management LLC bought a new position in shares of NETSTREIT during the second quarter valued at $1,696,000. Finally, State of Wyoming lifted its holdings in shares of NETSTREIT by 472.5% during the second quarter. State of Wyoming now owns 20,958 shares of the company's stock valued at $355,000 after acquiring an additional 17,297 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.

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