NETSTREIT (NYSE:NTST) Receives New Coverage from Analysts at UBS Group

UBS Group initiated coverage on shares of NETSTREIT (NYSE:NTST) in a research note published on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $19.00 target price on the stock.

A number of other brokerages have also issued reports on NTST. Scotiabank dropped their price objective on shares of NETSTREIT from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Wedbush started coverage on shares of NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 price objective for the company. Finally, Raymond James upgraded shares of NETSTREIT from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $20.00 to $19.00 in a report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.98.

NETSTREIT Trading Down 0.9 %

Shares of NETSTREIT stock opened at $16.57 on Monday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 184.11 and a beta of 0.96. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.55. NETSTREIT has a 12-month low of $13.49 and a 12-month high of $18.97. The firm’s 50-day moving average price is $16.40 and its two-hundred day moving average price is $16.77.

NETSTREIT (NYSE:NTST) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.33). The firm had revenue of $39.57 million for the quarter, compared to analyst estimates of $39.31 million. NETSTREIT had a return on equity of 0.39% and a net margin of 3.32%. During the same quarter in the previous year, the company earned $0.30 earnings per share. On average, analysts forecast that NETSTREIT will post 1.19 earnings per share for the current fiscal year.

NETSTREIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a $0.21 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.84 annualized dividend and a yield of 5.07%. This is an increase from NETSTREIT’s previous quarterly dividend of $0.21. NETSTREIT’s dividend payout ratio (DPR) is presently 933.33%.

Institutional Trading of NETSTREIT

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in NETSTREIT by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 7,352,295 shares of the company’s stock valued at $135,062,000 after purchasing an additional 566,513 shares during the period. Long Pond Capital LP lifted its stake in NETSTREIT by 235.2% during the 1st quarter. Long Pond Capital LP now owns 5,967,437 shares of the company’s stock valued at $109,622,000 after acquiring an additional 4,187,438 shares in the last quarter. Wellington Management Group LLP lifted its stake in NETSTREIT by 2.6% during the 4th quarter. Wellington Management Group LLP now owns 2,743,007 shares of the company’s stock valued at $48,963,000 after acquiring an additional 69,005 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in NETSTREIT by 64.9% during the 1st quarter. Russell Investments Group Ltd. now owns 1,593,752 shares of the company’s stock valued at $29,277,000 after acquiring an additional 627,514 shares in the last quarter. Finally, APG Asset Management US Inc. lifted its stake in NETSTREIT by 5.6% during the 2nd quarter. APG Asset Management US Inc. now owns 1,520,236 shares of the company’s stock valued at $24,597,000 after acquiring an additional 80,553 shares in the last quarter.

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.