NETSTREIT (NYSE:NTST) Sets 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%.

NETSTREIT Corp. (NYSE:NTST - Get Free Report) shares reached 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 changing hands. The stock had previously closed at $18.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NTST shares. UBS Group raised their price objective on NETSTREIT from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Robert W. Baird raised their target price on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Truist Financial set a $19.00 target price on NETSTREIT in a report on Friday, July 25th. Bank of America upgraded NETSTREIT from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $18.00 to $19.00 in a research report on Monday, July 28th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $18.83.

NETSTREIT Trading Up 0.8%

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 business has a 50-day moving average of $17.36 and a 200-day moving average of $16.01. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -236.00, a P/E/G ratio of 4.27 and a beta of 0.89.

NETSTREIT Increases Dividend

The business 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 dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.6%. This is a boost from NETSTREIT's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, September 2nd. NETSTREIT's dividend payout ratio (DPR) is currently -1,050.00%.

Hedge Funds Weigh In On NETSTREIT

Several hedge funds have recently modified their holdings of NTST. Assetmark Inc. increased its position in shares of NETSTREIT by 126.3% during the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock valued at $34,000 after buying an additional 1,200 shares during the period. CWM LLC lifted its position in NETSTREIT by 78.2% during the first quarter. CWM LLC now owns 2,253 shares of the company's stock valued at $36,000 after purchasing an additional 989 shares during the period. Lazard Asset Management LLC bought a new position in NETSTREIT in the fourth quarter worth approximately $41,000. State of Wyoming bought a new position in NETSTREIT in the first quarter worth approximately $58,000. Finally, GAMMA Investing LLC raised its position in NETSTREIT by 2,779.7% in the first quarter. GAMMA Investing LLC now owns 7,228 shares of the company's stock worth $115,000 after acquiring an additional 6,977 shares during the period.

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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