Brokerages Set NETSTREIT Corp. (NYSE:NTST) Price Target at $19.92

Shares of NETSTREIT Corp. (NYSE:NTST) have been assigned an average recommendation of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.0250.

A number of research analysts recently issued reports on NTST shares. UBS Group boosted their target price on shares of NETSTREIT from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Cantor Fitzgerald started coverage on shares of NETSTREIT in a research report on Wednesday. They set an “overweight” rating and a $21.00 target price for the company. Truist Financial set a $19.00 target price on shares of NETSTREIT in a research report on Friday, July 25th. Mizuho boosted their target price on shares of NETSTREIT from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th. Finally, Bank of America upgraded shares of NETSTREIT from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $18.00 to $19.00 in a research report on Monday, July 28th.

Insider Activity

In other news, CEO Mark Manheimer bought 5,600 shares of the stock in a transaction dated Friday, September 5th. The shares were acquired at an average cost of $17.93 per share, with a total value of $100,408.00. Following the purchase, the chief executive officer directly owned 316,378 shares in the company, valued at $5,672,657.54. The trade was a 1.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NETSTREIT

Hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC increased its stake in shares of NETSTREIT by 57.0% during the second quarter. Squarepoint Ops LLC now owns 58,762 shares of the company’s stock worth $995,000 after purchasing an additional 21,329 shares in the last quarter. TT Capital Management LLC acquired a new position in shares of NETSTREIT during the 2nd quarter worth about $1,696,000. State of Wyoming raised its position in shares of NETSTREIT by 472.5% during the 2nd quarter. State of Wyoming now owns 20,958 shares of the company’s stock worth $355,000 after purchasing an additional 17,297 shares during the last quarter. Hudson Bay Capital Management LP raised its position 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 worth $47,536,000 after purchasing an additional 862,766 shares during the last quarter. Finally, Caxton Associates LLP raised its position in shares of NETSTREIT by 15.2% during the 2nd quarter. Caxton Associates LLP now owns 23,421 shares of the company’s stock worth $397,000 after purchasing an additional 3,084 shares during the last quarter.

NETSTREIT Trading Up 0.6%

NYSE NTST opened at $18.40 on Friday. The company has a market capitalization of $1.54 billion, a PE ratio of -229.94, a P/E/G ratio of 2.97 and a beta of 0.90. The company has a fifty day moving average of $18.32 and a 200 day moving average of $16.93. NETSTREIT has a 1 year low of $13.42 and a 1 year high of $19.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.83 and a quick ratio of 3.83.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio is currently -1,075.00%.

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.