NETSTREIT (NYSE:NTST) Stock Price Breaks Above 50-Day Moving Average – Here’s What Happened

NETSTREIT Corp. (NYSE:NTST) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 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.

Analysts Set New Price Targets

Several analysts have recently weighed in on NTST shares. Jefferies Financial Group reissued a “buy” rating and set a $25.00 price objective on shares of NETSTREIT in a report on Wednesday, July 29th. Mizuho cut their target price on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Stifel Nicolaus cut their target price on NETSTREIT from $23.50 to $21.25 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Robert W. Baird raised their target price on NETSTREIT from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Truist Financial initiated coverage on shares of NETSTREIT in a research note on Thursday, October 1st. They set a “buy” rating and a $21.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

NETSTREIT Stock Up 4.0%

The company has a market cap of $2.34 billion, a P/E ratio of 84.75, a PEG ratio of 1.77 and a beta of 0.81. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $18.33 and a 200 day moving average price of $19.80.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $66.26 million during the quarter, compared to the consensus estimate of $60.55 million. NETSTREIT had a net margin of 9.18% and a return on equity of 1.33%. Equities research analysts forecast that NETSTREIT Corp. will post 1.29 earnings per share for the current year.

NETSTREIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.2250 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, December 1st. NETSTREIT’s payout ratio is currently 409.09%.

Institutional Trading of NETSTREIT

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hohimer Wealth Management LLC increased its stake in NETSTREIT by 6.4% in the third quarter. Hohimer Wealth Management LLC now owns 11,781 shares of the company’s stock valued at $208,000 after purchasing an additional 708 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in NETSTREIT in the 3rd quarter valued at approximately $43,000. Oregon Public Employees Retirement Fund raised its holdings in shares of NETSTREIT by 3.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 22,800 shares of the company’s stock valued at $403,000 after purchasing an additional 700 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in NETSTREIT by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 278,289 shares of the company’s stock worth $4,920,000 after buying an additional 1,997 shares in the last quarter. Finally, State of Wyoming boosted its position in NETSTREIT by 19.1% during the third quarter. State of Wyoming now owns 20,160 shares of the company’s stock valued at $356,000 after purchasing an additional 3,227 shares during the last quarter.

NETSTREIT Company Profile

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.