Wells Fargo & Company Issues Positive Forecast for NETSTREIT (NYSE:NTST) Stock Price

Key Points

• Wells Fargo & Company has increased its target price for NETSTREIT (NYSE:NTST) from $18.00 to $20.00, indicating a potential upside of 8.40%.
• Other analysts have also raised their price targets, with UBS Group setting a target of $21.00 and Bank of America increasing its target to $19.00.
• The company currently has a consensus rating of “Buy” with an average target price of $19.36, supported by multiple ratings from various analysts.

NETSTREIT (NYSE:NTST - Get Free Report) had its target price upped by analysts at Wells Fargo & Company from $18.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 8.40% from the company's current price.

A number of other analysts have also weighed in on the company. Robert W. Baird increased their price objective on NETSTREIT from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group increased their price objective on NETSTREIT from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Bank of America raised NETSTREIT from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $18.00 to $19.00 in a research note on Monday, July 28th. Raymond James Financial reissued a "strong-buy" rating and set a $21.00 price objective on shares of NETSTREIT in a research note on Wednesday, July 30th. Finally, Truist Financial set a $19.00 price objective on NETSTREIT in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $19.36.

NETSTREIT Trading Up 0.1%

Shares of NYSE:NTST traded up $0.02 during trading on Wednesday, reaching $18.45. 50,423 shares of the company traded hands, compared to its average volume of 1,017,496. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -230.76, a P/E/G ratio of 4.24 and a beta of 0.89. NETSTREIT has a 52-week low of $13.42 and a 52-week high of $19.18. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.70. The business's fifty day moving average is $17.83 and its 200-day moving average is $16.29.

Hedge Funds Weigh In On NETSTREIT

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in NETSTREIT by 1,123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the company's stock worth $30,000 after purchasing an additional 1,640 shares in the last quarter. Assetmark Inc. raised its holdings in NETSTREIT by 126.3% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company's stock worth $34,000 after purchasing an additional 1,200 shares in the last quarter. CWM LLC raised its holdings in NETSTREIT by 78.2% in the first quarter. CWM LLC now owns 2,253 shares of the company's stock worth $36,000 after purchasing an additional 989 shares in the last quarter. Lazard Asset Management LLC bought a new position in NETSTREIT in the fourth quarter worth $41,000. Finally, State of Wyoming bought a new position in NETSTREIT in the first quarter worth $58,000.

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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