NETSTREIT (NYSE:NTST) Hits New 12-Month High - What's Next?

Key Points

• NETSTREIT Corp. (NYSE: NTST) shares hit a new 12-month high of $19.01, with a trading volume of 691,517 shares.
• Multiple analysts have raised their price targets for NTST, with UBS Group and Robert W. Baird setting target prices of $20.00 and maintaining a "buy" rating.
• The company has declared an increase in its quarterly dividend to $0.215 per share, resulting in a yield of 4.6% and a payout ratio of -1,050.00%.

Shares of NETSTREIT Corp. (NYSE:NTST - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $19.01 and last traded at $18.88, with a volume of 691517 shares trading hands. The stock had previously closed at $18.73.

Analyst Ratings Changes

NTST has been the topic of a number of research reports. UBS Group boosted their target price on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday. Truist Financial set a $19.00 price objective on NETSTREIT in a report on Friday, July 25th. Robert W. Baird lifted their target price on NETSTREIT from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. 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, July 28th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $18.93.

NETSTREIT Stock Down 1.3%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. The stock's 50 day simple moving average is $17.56 and its 200 day simple moving average is $16.13. The firm has a market cap of $1.55 billion, a P/E ratio of -231.94, a price-to-earnings-growth ratio of 4.32 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. Stockholders of record on Tuesday, September 2nd will be issued a $0.215 dividend. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's dividend payout ratio is -1,050.00%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NTST. Wedge Capital Management L L P NC purchased a new stake in NETSTREIT in the 1st quarter valued at $2,389,000. LPL Financial LLC bought a new stake in shares of NETSTREIT in the 4th quarter worth $236,000. Freestone Grove Partners LP purchased a new stake in shares of NETSTREIT in the fourth quarter valued at about $363,000. Raymond James Financial Inc. bought a new position in shares of NETSTREIT during the fourth quarter valued at about $927,000. Finally, DigitalBridge Group Inc. lifted its position in shares of NETSTREIT by 1,175.4% during the fourth quarter. DigitalBridge Group Inc. now owns 953,968 shares of the company's stock valued at $13,499,000 after purchasing an additional 879,168 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.