NETSTREIT (NYSE:NTST) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for NETSTREIT from $18.00 to $20.00, indicating a potential upside of 8.23% from the current stock price.
• Several analysts, including Bank of America and UBS Group, have upgraded their ratings and price targets on NETSTREIT, reflecting a generally positive outlook on the stock.
• NETSTREIT's current market capitalization stands at $1.54 billion, with shares trading at approximately $18.48, and it has experienced significant recent investments from institutional investors.

NETSTREIT (NYSE:NTST - Get Free Report) had its price objective upped by equities researchers at Scotiabank from $18.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 8.23% from the company's current price.

A number of other equities analysts also recently commented on the stock. Bank of America upgraded shares of NETSTREIT from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $18.00 to $19.00 in a research note on Monday, July 28th. UBS Group lifted their price target on shares of NETSTREIT from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Truist Financial set a $19.00 price target on shares of NETSTREIT in a research report on Friday, July 25th. Robert W. Baird upped their price target on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company increased their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, NETSTREIT presently has a consensus rating of "Buy" and a consensus target price of $19.58.

NETSTREIT Price Performance

NYSE NTST traded up $0.05 during trading on Wednesday, reaching $18.48. 74,733 shares of the company traded hands, compared to its average volume of 1,017,570. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -230.56, a P/E/G ratio of 4.24 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.83 and a current ratio of 3.83. NETSTREIT has a 1-year low of $13.42 and a 1-year high of $19.18. The stock's 50 day moving average price is $17.83 and its two-hundred day moving average price is $16.29.

Institutional Trading of NETSTREIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its holdings in shares of NETSTREIT by 57.0% in the 2nd quarter. Squarepoint Ops LLC now owns 58,762 shares of the company's stock valued at $995,000 after acquiring an additional 21,329 shares during the last quarter. TT Capital Management LLC acquired a new position in NETSTREIT in the 2nd quarter worth about $1,696,000. State of Wyoming increased its holdings in shares of NETSTREIT by 472.5% during the 2nd 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 last quarter. Hudson Bay Capital Management LP increased its holdings in shares of NETSTREIT by 44.4% during the 2nd quarter. Hudson Bay Capital Management LP now owns 2,807,797 shares of the company's stock valued at $47,536,000 after acquiring an additional 862,766 shares during the last quarter. Finally, Caxton Associates LLP increased its stake in shares of NETSTREIT by 15.2% in the 2nd quarter. Caxton Associates LLP now owns 23,421 shares of the company's stock valued at $397,000 after buying an additional 3,084 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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