NETSTREIT (NYSE:NTST) Share Price Breaks Above Fifty Day Moving Average - Here's Why

Key Points

• NETSTREIT shares rose 4% and moved above their 50-day average, trading near $18.65 versus the average of $18.33; they remained below the 200-day average of $19.80.
• Analyst sentiment remains favorable: 13 analysts rate the stock Buy and one Hold, giving it a “Moderate Buy” consensus and an average price target of $21.67, despite several analysts lowering their targets.
• Quarterly revenue of $66.26 million exceeded estimates, but earnings of $0.08 per share fell short of the $0.09 consensus. NETSTREIT also announced a $0.225 quarterly dividend, equivalent to a 4.8% annual yield.

NETSTREIT Corp. (NYSE:NTST - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $18.33 and traded as high as $18.68. NETSTREIT shares last traded at $18.6450, with a volume of 2,554,560 shares trading hands.

Wall Street Analyst Weigh In

NTST has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on NETSTREIT from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, October 19th. Scotiabank lowered their target price on NETSTREIT from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research note on Thursday, September 24th. Truist Financial initiated coverage on NETSTREIT in a report on Thursday, October 1st. They issued a "buy" rating and a $21.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of NETSTREIT from $23.50 to $21.25 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Finally, Weiss Ratings raised shares of NETSTREIT from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.67.

NETSTREIT Trading Up 4.0%

The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 84.75, a price-to-earnings-growth ratio of 1.77 and a beta of 0.81. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $18.33 and a two-hundred day moving average of $19.80.

NETSTREIT (NYSE:NTST - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). NETSTREIT had a net margin of 9.18% and a return on equity of 1.33%. The firm had revenue of $66.26 million during the quarter, compared to the consensus estimate of $60.55 million. On average, research analysts expect that NETSTREIT Corp. will post 1.29 EPS for the current year.

NETSTREIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.2250 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.90 dividend on an annualized basis and a yield of 4.8%. NETSTREIT's dividend payout ratio (DPR) is presently 409.09%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NTST. BlackRock Inc. acquired a new stake in shares of NETSTREIT in the second quarter worth $404,780,000. Principal Financial Group Inc. raised its stake in NETSTREIT by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 9,535,801 shares of the company's stock valued at $179,560,000 after purchasing an additional 309,453 shares during the last quarter. Bank of America Corp DE raised its stake in NETSTREIT by 12.2% during the 1st quarter. Bank of America Corp DE now owns 3,433,461 shares of the company's stock valued at $64,652,000 after purchasing an additional 372,337 shares during the last quarter. Deutsche Bank AG acquired a new position in NETSTREIT during the 2nd quarter valued at $44,589,000. Finally, Jupiter Topco LLC bought a new stake in NETSTREIT in the 2nd quarter valued at $36,959,000.

About NETSTREIT

NETSTREIT Corp. is a real estate investment trust focused on owning and managing outpatient healthcare properties in the United States. The company invests primarily in facilities that provide essential medical services, including physician offices, ambulatory care centers and other outpatient healthcare locations.

NETSTREIT generally leases its properties to healthcare providers under long-term, triple-net lease agreements. Under these arrangements, tenants typically assume responsibility for property taxes, insurance and maintenance expenses.

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