NETSTREIT (NYSE:NTST) Sees Strong Trading Volume - Time to Buy?

Key Points

• NETSTREIT Corp. experienced a trading volume of approximately 996,611 shares, a slight decrease from the previous session's volume, with its stock currently trading at $18.26.
• Several analysts have given NETSTREIT favorable ratings, with a consensus rating of "Buy" and a price target averaging $20.03.
• NETSTREIT recently increased its quarterly dividend to $0.215 per share, translating to an annual yield of 4.7%.

Shares of NETSTREIT Corp. (NYSE:NTST - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 996,611 shares were traded during trading, a decline of 5% from the previous session's volume of 1,053,277 shares.The stock last traded at $18.26 and had previously closed at $18.28.

Wall Street Analyst Weigh In

NTST has been the topic of several recent research reports. Scotiabank restated an "outperform" rating on shares of NETSTREIT in a report on Wednesday, August 27th. Cantor Fitzgerald assumed coverage on NETSTREIT in a report on Wednesday. They set an "overweight" rating and a $21.00 target price on the stock. Wells Fargo & Company lifted their price objective on NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Robert W. Baird lifted 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. Finally, Mizuho lifted their price objective on NETSTREIT from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $20.03.

NETSTREIT Trading Up 0.1%

The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -228.60, a P/E/G ratio of 2.93 and a beta of 0.90. The business has a 50-day moving average of $18.31 and a two-hundred day moving average of $16.91. 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 business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a yield of 4.7%. NETSTREIT's dividend payout ratio (DPR) is presently -1,075.00%.

Insiders Place Their Bets

In other NETSTREIT news, CEO Mark Manheimer bought 5,600 shares of NETSTREIT stock in a transaction dated Friday, September 5th. The shares were acquired at an average cost of $17.93 per share, with a total value of $100,408.00. Following the acquisition, the chief executive officer directly owned 316,378 shares of the company's stock, valued at $5,672,657.54. The trade was a 1.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.58% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NTST. Ameriprise Financial Inc. boosted its holdings in shares of NETSTREIT by 21.5% in the 4th quarter. Ameriprise Financial Inc. now owns 44,116 shares of the company's stock worth $624,000 after acquiring an additional 7,820 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of NETSTREIT by 3.8% in the 4th quarter. California State Teachers Retirement System now owns 72,370 shares of the company's stock worth $1,024,000 after acquiring an additional 2,626 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of NETSTREIT by 2,779.7% in the 1st quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock worth $115,000 after acquiring an additional 6,977 shares in the last quarter. Heritage Family Offices LLP bought a new position in NETSTREIT in the 1st quarter worth approximately $168,000. Finally, Wedge Capital Management L L P NC bought a new position in NETSTREIT in the 1st quarter worth approximately $2,389,000.

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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