NETSTREIT Corp. (NYSE:NTST) Stock Has Consensus Price Target of $21.67

NETSTREIT Corp. (NYSE:NTST) has been given a consensus rating of “Moderate Buy” by the fourteen research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $21.67.

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of NETSTREIT from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Scotiabank decreased their price objective on NETSTREIT from $22.00 to $20.00 and set a “sector outperform” rating for the company in a report on Thursday, September 24th. BMO Capital Markets raised their target price on NETSTREIT from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. 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, Mizuho cut their target price on NETSTREIT from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, October 19th.

NETSTREIT Stock Up 4.0%

NYSE:NTST opened at $18.64 on Monday. The firm’s 50 day simple moving average is $18.33 and its 200 day simple moving average is $19.80. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.77 and a quick ratio of 2.77. NETSTREIT has a one year low of $16.18 and a one year high of $22.47. The company has a market cap of $2.34 billion, a PE ratio of 84.75, a P/E/G ratio of 1.77 and a beta of 0.81.

NETSTREIT (NYSE:NTST) last posted its earnings results on Wednesday, October 21st. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $66.26 million for the quarter, compared to the consensus estimate of $60.55 million. NETSTREIT had a return on equity of 1.33% and a net margin of 9.18%. On average, research analysts anticipate that NETSTREIT will post 1.29 earnings per share for the current year.

NETSTREIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.2250 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.90 annualized dividend and a dividend yield of 4.8%. NETSTREIT’s dividend payout ratio is presently 409.09%.

Hedge Funds Weigh In On NETSTREIT

A number of hedge funds and other institutional investors have recently made changes to their positions in NTST. PNC Financial Services Group Inc. increased its position in shares of NETSTREIT by 13.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,539 shares of the company’s stock worth $85,000 after buying an additional 549 shares during the period. Oregon Public Employees Retirement Fund raised its stake in NETSTREIT by 3.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 22,800 shares of the company’s stock worth $403,000 after buying an additional 700 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in NETSTREIT by 6.4% during the third quarter. Hohimer Wealth Management LLC now owns 11,781 shares of the company’s stock worth $208,000 after buying an additional 708 shares during the last quarter. GAMMA Investing LLC raised its stake in NETSTREIT by 62.0% during the third quarter. GAMMA Investing LLC now owns 1,967 shares of the company’s stock worth $35,000 after buying an additional 753 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. lifted its holdings in NETSTREIT by 43.0% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 4,543 shares of the company’s stock valued at $80,000 after buying an additional 1,367 shares during the period.

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.