NETSTREIT (NYSE:NTST) Coverage Initiated at Berenberg Bank

Key Points

• Berenberg Bank has initiated coverage on NETSTREIT (NYSE:NTST) with a buy rating and a price target of $22.00, indicating a potential upside of 17.96% from its current price.
• Several other analysts have also increased their price targets for NETSTREIT, with the consensus price target now sitting at $20.20 and most ratings being either Buy or Strong Buy.
• NETSTREIT's CEO, Mark Manheimer, recently purchased 5,600 shares, reflecting insider confidence in the company's growth and stability.

Research analysts at Berenberg Bank began coverage on shares of NETSTREIT (NYSE:NTST - Get Free Report) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a "buy" rating and a $22.00 price target on the stock. Berenberg Bank's price objective would suggest a potential upside of 17.96% from the stock's current price.

A number of other research analysts have also commented on NTST. Wells Fargo & Company upped their price target on NETSTREIT from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. UBS Group upped their target price on NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Robert W. Baird upped their target price on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and issued a $21.00 target price on shares of NETSTREIT in a research note on Wednesday, July 30th. Finally, Bank of America upgraded NETSTREIT from an "underperform" rating to a "neutral" rating and upped their target price for the company from $18.00 to $19.00 in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $20.20.

NETSTREIT Stock Up 2.4%

NTST opened at $18.65 on Monday. The business has a 50 day moving average price of $18.31 and a 200 day moving average price of $17.10. NETSTREIT has a twelve month low of $13.42 and a twelve month high of $19.18. 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 firm has a market cap of $1.56 billion, a P/E ratio of -233.13, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90.

Insiders Place Their Bets

In related news, CEO Mark Manheimer purchased 5,600 shares of the stock in a transaction on Friday, September 5th. The shares were purchased at an average cost of $17.93 per share, for a total transaction of $100,408.00. Following the completion of the transaction, the chief executive officer directly owned 316,378 shares of the company's stock, valued at approximately $5,672,657.54. The trade was a 1.80% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by company insiders.

Institutional Trading of NETSTREIT

Large investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in NETSTREIT in the first quarter valued at $8,676,000. Vanguard Group Inc. grew its position in NETSTREIT by 4.0% in the first quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company's stock valued at $131,170,000 after acquiring an additional 315,888 shares during the period. Swiss National Bank grew its position in NETSTREIT by 3.9% in the first quarter. Swiss National Bank now owns 158,100 shares of the company's stock valued at $2,506,000 after acquiring an additional 5,900 shares during the period. New Age Alpha Advisors LLC grew its holdings in shares of NETSTREIT by 173.5% during the first quarter. New Age Alpha Advisors LLC now owns 170,667 shares of the company's stock worth $2,705,000 after purchasing an additional 108,274 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of NETSTREIT by 12.5% during the first quarter. Envestnet Asset Management Inc. now owns 173,642 shares of the company's stock worth $2,752,000 after purchasing an additional 19,234 shares during the last quarter.

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.