NETSTREIT (NYSE:NTST) Earns Buy Rating from Analysts at Berenberg Bank

Berenberg Bank started coverage on shares of NETSTREIT (NYSE:NTST) in a research note released on Monday, MarketBeat reports. The brokerage issued a buy rating and a $22.00 price objective on the stock.

NTST has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NETSTREIT in a report on Wednesday, October 8th. Robert W. Baird upped their price objective 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. Cantor Fitzgerald initiated coverage on shares of NETSTREIT in a report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 price objective on the stock. Truist Financial set a $19.00 target price on shares of NETSTREIT in a report on Friday, July 25th. Finally, Wells Fargo & Company lifted their target price on shares of NETSTREIT from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, NETSTREIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

NETSTREIT Trading Up 0.1%

Shares of NYSE NTST opened at $19.00 on Monday. NETSTREIT has a twelve month low of $13.42 and a twelve month high of $19.18. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average is $18.33 and its 200-day moving average is $17.12. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -237.46, a P/E/G ratio of 3.07 and a beta of 0.90.

NETSTREIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.215 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.86 annualized dividend and a yield of 4.5%. This is a positive change from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s payout ratio is currently -1,075.00%.

Insider Activity at NETSTREIT

In other news, CEO Mark Manheimer acquired 5,600 shares of the company’s stock in a transaction on Friday, September 5th. The stock was bought at an average cost of $17.93 per share, with a total value of $100,408.00. Following the completion of the purchase, the chief executive officer directly owned 316,378 shares of the company’s stock, valued at $5,672,657.54. This represents a 1.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On NETSTREIT

A number of large investors have recently bought and sold shares of NTST. Strs Ohio acquired a new position in shares of NETSTREIT during the 1st quarter worth approximately $8,676,000. Vanguard Group Inc. grew its holdings in shares of NETSTREIT by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 8,275,681 shares of the company’s stock worth $131,170,000 after purchasing an additional 315,888 shares during the period. Swiss National Bank raised its position in NETSTREIT by 3.9% in the 1st quarter. Swiss National Bank now owns 158,100 shares of the company’s stock valued at $2,506,000 after purchasing an additional 5,900 shares in the last quarter. New Age Alpha Advisors LLC raised its position in shares of NETSTREIT by 173.5% during the 1st quarter. New Age Alpha Advisors LLC now owns 170,667 shares of the company’s stock worth $2,705,000 after acquiring an additional 108,274 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of NETSTREIT by 12.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 173,642 shares of the company’s stock worth $2,752,000 after acquiring an additional 19,234 shares in 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.